U.S. trade deficit shrinks in April as oil exports surge

The United States' trade deficit fell 1.2% in April, reaching $55.9 billion, according to data from the Department of Commerce. The reduction was driven by a 2.6% rise in oil and petroleum product exports, which climbed to $327.1 billion after the joint U.S.–Israel strikes on Iran and Tehran’s retaliation in the Strait of Hormuz.

Imports increased 2.0% to $383 billion, supported by higher purchases of computers, semiconductors and other high‑tech equipment needed for artificial‑intelligence data centers, as well as a rise in capital‑goods shipments such as civil aircraft. The change comes as Washington prepares new tariffs on imports from nations it says allow forced‑labour products.