US trade deficit hits 18-month low on record exports in May

Washington, July 6: A burst of US exports of soybeans, commercial aircraft and other goods drove the American trade gap to its lowest level in 18 months in May, the government reported Friday.

As Washington embarked on a multi-front trade war, the US trade deficit fell 6.6 percent to $43.1 billion in May on the back of all-time record exports.

There were reports of firms trying to ship products out before retaliatory tariffs from China took effect Friday, as well import goods before US tariffs hit at midnight.

(AFP/APP)