April Trade Gap Widens to $47.2 Billion as Exports Ebb

WASHINGTON, D.C. — The U.S. trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high. The deficit rose to $47.2 billion in April, up 6.9% from an upwardly revised March deficit of $44.2 million, the Commerce Department announced this week. Exports dropped for the fourth month out of the past five, falling 0.2% to $195.4 billion. Meanwhile, imports climbed 1.2% to a record high of $240.6 billion.