(AURN News) — The U.S. trade deficit shrank significantly in April, according to new data released by the Department of Commerce. But even with the drop, many Americans are still feeling the sting of high prices at home.
The trade gap narrowed to $61.6 billion in April, down from a revised $138.3 billion in March. That drop came as exports rose by $8.3 billion to $289.4 billion, while imports fell sharply by $68.4 billion to $351.0 billion.
While these numbers may appear to reflect economic progress, the reality for what it means for you is more complicated. The decrease in imports doesn’t necessarily mean Americans are buying more domestic goods — it may just reflect reduced purchasing power.
With President Donald Trump’s continued tariff-heavy approach to trade, the costs of everyday items have risen across many sectors. Though not addressed directly in the latest report, the higher prices many families are paying at the store are a lasting consequence of the administration’s trade policies.
So while the deficit has fallen, the broader economic picture still raises concerns for middle- and working-class Americans, many of whom are feeling the effects in their wallets.
Click play to listen to the AURN News report from Jamie Jackson:
