US trade deficit with China narrows in March

  • by Ahmed Mamdouh
  • May 9, 2019, 17:9 AM
  • 2232 Views
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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.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

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