U.S. Trade Deficit Narrows Amid Record Oil Export Surge and AI Imports

The U.S. trade deficit narrowed slightly in April as a record surge in petroleum exports offset a massive increase in imports of artificial intelligence infrastructure equipment, leaving the underlying trade position little changed.

The goods and services deficit shrank 1.2 percent to $55.9 billion from a revised $56.6 billion in March, the Commerce Department said Tuesday. Economists had forecast a $55.9 billion deficit. Exports rose 2.6 percent to a record $327.1 billion while imports climbed 2.0 percent to $383.0 billion.

The dominant force on the export side was petroleum. With the Strait of Hormuz effectively closed since the U.S.-backed…

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