WASHINGTON (Reuters) – The U.S. trade deficit fell 4.7% to $52.5 billion in September as the country recorded its first petroleum surplus, but overall imports and exports otherwise fell under the weight of rising global tariffs and a slowing world economy. FILE PHOTO: An aerial photo looking north shows shipping containers at the Port of Seattle and the Elliott Bay waterfront in Seattle, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File Photo Economists polled by Reuters had forecast the trade gap would fall slightly to $52.5 billion in September. The United States imported fewer cars but sold fewer overseas in September. It also imported fewer cellphones, toys and games, but sold less food, feed and beverages abroad. The August trade deficit was revised to a slightly wider $55.04 billion. While the petroleum surplus of $252 million was the first since 1978, it reflected both a drop in exports of U.S. oil and a larger decline in imports of foreign oil, a possible outgrowth of the recent weakness in manufacturing. The goods trade gap with China narrowed by $100 million to $31.6 billion, with exports to the country falling $800 million in September and imports from China falling $1.0 billion. The United… Read full this story
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