US trade deficit hit new low in Oct

WASHINGTON, The US trade deficit dropped in October to the lowest level in more than one year, the Department of Commerce said Thursday.

The goods and services deficit was USD 47.2 billion in October, down USD 3.9 billion from USD 51.1 billion in September, according to figures of US Census Bureau and the US Bureau of Economic Analysis.

October exports were USD 207.1 billion, USD 0.4 billion less than September exports. October imports were USD 254.3 billion, USD 4.3 billion less than September imports.

Imports dropped by 1.7 percent, and exports dipped 0.2 percent.

The deficit with China decreased USD 2.6 billion to USD 77.3 billion in the third quarter.

Exports increased less than USD 0.1 billion to USD 42.5 billion and imports decreased USD 2.6 billion to USD 119.8 billion.

On the US-China trade talks, President Donald Trump said in a luncheon at the White House, “Right now we’re moving along.” “We are having very major discussions. On December 15th something could happen, but we are not discussing that yet. “We are having very good discussions with China,” he added.

Source: Kuwait News Agency