US Trade Gap Rises to $44.4 Billion as Virus Slams Commerce
WASHINGTON (AP) — The U.S. trade deficit rose in March as the coronavirus outbreak battered America’s trade with the world.
The gap between what the United States sells and what it buys abroad rose 11.6% in March to $44.4 billion from $39.8 billion in February.
U.S. exports fell 9.6% to $187.7 billion, and imports fell 6.2% to $232.2 billion.
Total trade — exports plus imports — came in at $419.9 billion in March, down 7.8% from February and 11.4% from March 2019.
The politically sensitive deficit in the trade of goods with China fell 21.3% to $15.5 billion in March as exports rose slightly and imports fell.
The coronavirus and the lockdowns and travel restrictions meant to contain it have hammered the world economy and paralyzed global trade.