US trade deficit fell in May as exports hit 2-year high

The Associated Press

WASHINGTON — The U.S. trade deficit narrowed in May, and the politically sensitive trade gap with China also slid.

The Commerce Department said Thursday that the U.S. deficit in the trade of goods and services fell 2.2 percent in May to a seasonally adjusted $46.5 billion. U.S. exports rose modestly to $192 billion — the highest level since April 2015 — on rising shipments of cars and consumer goods, including cellphones. Imports fell slightly.

President Donald Trump has vowed to reduce America’s trade deficits — the difference between exports and imports — blaming them on bad trade deals and abusive practices by U.S. trading partners, particularly China. His administration also is preparing to renegotiate the North American Free Trade Agreement with Canada and Mexico to overhaul a trade pact he’s called a “disaster” for American workers.

The deficit in goods with China fell by 6.2 percent to a seasonally adjusted $30.1 billion. The gap with Mexico rose by 5.6 percent to $6.8 billion.

Despite the dip in May, the overall U.S. trade deficit is up 13.1 percent so far this year to $233.1 billion. Exports are up 6 percent to $957.8 billion. But imports are up more — 7.3 percent to $1.19 trillion.

So far in 2017, the U.S. is running a $336.2 billion deficit in the trade of goods and a $103.1 billion surplus in the trade of services such as banking and tourism.””

In this Oct. 24, 2016, photo, a container is unloaded from a ship at the Port of Baltimore, in Baltimore. On Thursday, July 6, 2017, the Commerce Department reports on the U.S. trade gap for May.

AP Photo/Patrick Semansky

Crime

Sulphur High student arrested after threat made

Crime

Sheriff: Escapee shot after firing at officers

Local News

Governor optimistic about federal hurricane aid for SW La.

Local News

Eastbound lane of I-10 bridge remains closed after fiery crash

Jim Beam

Jim Beam column:Finally, a feel-good movie

Business News

$21M rice mill should be complete by next harvest

Crime

Three more linked to Oakdale bar shooting

Local News

State confirms seventh pediatric death from COVID-19 in fourth surge

Local Business News

Jeff Davis hoping to join program designed to attract business

Local Business News

EMS Academy looking for ‘right people in right spots’

Local Business News

Four state amendments await voters Nov. 13

Local Business News

George Swift column: Recovery, rebuilding after storms

Local Business News

Names in the News: People making a difference in the Lake Area

Local News

Breaux has honed some serious culinary skills since his Crock-pot days

Local News

Cemetery Association asking for help with hurricane-damaged graves

Crime Brief

Fort Polk soldiers charged in DeRidder drive-by shooting

Crime Brief

Lake Arthur man loses hunting privileges

Local News

Higgins says he will vote against raising debt limit

Local News

Field of education plays major role in Broussard household

Local News

Driver, passenger killed in collision with 18-wheeler

Local News

Colo. man struck, killed in Calcasieu

Local News

The Last Island Hurricane of 1856: Killer storm wiped out a pre-Civil War resort island

Local News

Volunteer of Week: Stanford dedicates life to city

Local News

Slow rebuild: Local officials say recovery still a ways off