U.S. trade deficit climbs 8.5% in April

U.S. trade deficit climbs 8.5% in April

The U.S. trade deficit climbed 8.5% to $40.3 in April from a revised $37.1 billion in the prior month, as imports from China surged after the end of a major holiday season in that country. Economists surveyed by MarketWatch forecast the deficit to climb to a seasonally adjusted $41.5 billion from an initial estimate of $38.8 billion in March. In April, U.S. exports rose 1.2% to a seasonally adjusted $187.4 billion, while imports increased 2.4% to $227.7 billion. The trade gap with China, which fell to the lowest level in March in three years, jumped to $24.1 billion from $17.9 billion. Deficits with the European Union, the OPEC oil producing countries and Japan also rose. The trade deficit related to petroleum fell for the third straight month, however