The US trade deficit rose by the most in eight years in April

The US Department of Commerce said that the US trade deficit rose 23.0% to $74.6 billion in April and March data was revised to show that the trade gap narrowed to $60.6 billion instead of $64.2 billion.

Goods imports rose 2.0% to $263.2 billion in April, total imports rose 1.5% to $323.6 billion in April, and merchandise exports fell 5.3% to $167.1 billion in April.

Total exports fell 3.6% to $249.0 billion in April, the largest decline in three years and also the lowest level since March 2022. The goods trade deficit with China widened to $24.2 billion in April, compared to $22.6 billion in March.