U.S. Goods Trade Deficit Drops Sharply After Pre-Tariff Surge

By Felix Richter – Statista

U.S. goods imports fell by almost 20 percent in April as companies tried to come to terms with new realities amid a whirlwind of tariff announcements. While the worst fears didn’t come to pass after President Trump paused the reciprocal tariffs announced on “Liberation Day” for 90 days, the 10-percent baseline tariff on all imports as well as the punitively high tariffs on all imports from China brought the overall tariff rate to a multi-decade high.