The US Trade Deficit Narrowed In September, The Best In 8 Months.

According to the data released by the US Department of Commerce, the trade deficit in the US (2019) in September hit the biggest decline in 8 months, mainly due to the decline in the import volume of automobiles, mobile phones and other electrical products from the trend of pre tax increase in August.

Agence France-Presse reported that the US Department of Commerce said the overall US exports in September also declined, as the demand for several key products in the US continued to drop, including politically sensitive agricultural products, and Boeing Co. had not yet come out of the crisis.

The US trade deficit in September dropped 4.7% to $52 billion 500 million, which was in line with economists' expectations, but the biggest drop since January.

US President trump has imposed more tariffs on mainland Chinese products worth more than 100 billion U.S. dollars since September, which led importers to rush to buy goods before the tariff rises and expand the US trade deficit in August.

Recent media reports indicate that officials in the US and Mainland China are considering withdrawing part of the tariff so as to enable the two sides to finalize some agreements and end the trade war launched by trump last year.

US exports in September dropped by 0.9% to $206 billion. Global sales of soybeans, buses and trucks decreased by US $2 billion 500 million, but the increase in aircraft and aircraft engine exports slightly offset the overall decline in exports.

The Commerce Department report shows that US imports in September also fell by 1.7% to 258 billion 400 million US dollars. In the holiday shopping season, the buying power of toys, games, artworks and collectibles decreased, and the purchasing power of overseas markets in trucks, buses, semiconductors, automobiles and parts also decreased.

Data also showed that the US oil trade surplus in September was the first record of this record for more than 40 years.

A reduction in the US trade deficit should support the growth of domestic gross domestic product (GDP) estimated from July to September. However, the trade deficit in the first 9 months of this year expanded to $481 billion 300 million, an increase of 5.4% over the same period last year.

This year's US trade deficit with China has dropped by 13.1% to $266 billion 400 million, but the US trade deficit with Mexico has surged by 29.4%, highlighting trade relations under the trump trade offensive.