President Donald Trump's trade war seems to have had an effect, even if the statistics are likely to contain a lot of hoarding effects. Imports plummeted a record amount in April, down 16 percent, while exports rose by three percent, reports the news agency Bloomberg.
Thus, the trade deficit, which is still gigantic, shrank by 55 percent to 61.6 billion dollars during the month, the lowest since 2023. In March, the deficit was sky-high at 138 billion dollars before many of the tariffs were introduced.
