Have Trump's tariffs worked? The US trade deficit's slower growth would suggest so.
The tariff confrontation reduces competitiveness and limits projected export volumes. Photo: iStock
TL;DR
- The US trade deficit grew by 4.9% to $57.3 billion in February.
- Both imports and exports increased during the period.
- A Supreme Court ruling struck down a broad range of Trump's tariffs.
- A Pew Research Center poll indicated low public confidence in Trump's trade policy decisions.
- Economists at KPMG noted the court ruling could impact future data by opening a window for import surges.
- The February deficit was smaller than the $62 billion expected by economists.