WASHINGTON – The U.S. trade deficit narrowed in March to the lowest level since October as both exports and imports fell. But the politically sensitive trade gap with China rose.
The Commerce Department said Thursday that the gap in goods and services slipped to $43.7 billion, down from $43.8 billion in February. Exports dropped 0.9 percent to $191 billion, pulled down by falling auto exports. Imports fell 0.7 percent $234.7 billion as imports of crude oil and other petroleum products slid.
So far this year, the trade deficit is up more than 7 percent to $135.6 billion. For all of last year, the gap exceeded $500 billion.
