Tidbits, U.S. Trade Deficit, Crude Oil, Biointermediate, Export Sales 5/31/25
- Wright team
- 2 days ago
- 5 min read
Highlights
Multiple U.S. sources, including President Trump, said yesterday that trade negotiations with China are going nowhere and perhaps backwards. That news is not a big surprise as there has been no news about the negotiations. The Wall Street Journal reported that the US-China trade deal is at risk of falling apart over rare earth minerals.
The U.S. trade deficit narrowed to $87.6 billion in April, down $74.6 billion (46%) from a record $162.3 billion in March. The sharp contraction was driven by a 19.8% drop in imports. Import declines were broad-based, with the steepest drops seen in consumer goods (-32.3%), industrial supplies (-31.1%), and automobiles (-19.1%). Exports continued to rise, increasing 3.4% in April after a 2.3% gain in March. Growth was led by industrial supplies (+15.5%) and other goods (+10.1%).
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