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US trade deficit with China narrows in March

Posted by Ahmed Mamdouh On 5/9/2019 5:09:25 PM In Forex_News

U.S. trade figures released on Thursday showed that the United States trade deficit with China narrowed on March, giving a boost tot eh White House during their negotiations today.

The trade shortfall with China fell by $1.9 billion to $28.3 billion in March, as US exports to China edged up by 1.4 billion while imports slipped $0.5 billion, the Commerce Department data showed.

Later in the day, talks between the Chinese delegation to Washington, led by Vice-Premier Liu He, and U.S. trade representatives will continue.

The overall trade deficit dropped to $50.0 billion from a revised deficit of $49.3 billion in February. Analysts had predicted an increase in the deficit to $51.4 billion.

Another report from the U.S. showed that produce prices rose 0.2 percent in April, matching forecasts, following a 0.6 percent surge a month earlier.

Initial jobless claims came in at 228,000 last week, compared to 230,000 a week before. That was above analysts’ projections of 215,000.

As of 13:03 GMT, the dollar index traded near the session’s open at 97.35, after sliding from the session’s peak of 97.47.

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