US trade deficit falls in February as shortfall with China decreases 28%



Jeff Cox | CNBC

The U.S. goods and services deficit with its global trading partners fell to $49.4 billion in February, its lowest level since June 2018 and well below estimates, the Commerce Department reported Wednesday.

Economists surveyed by Dow Jones expected the U.S. trade deficit in February to increase to $53.8 billion from $51.1 billion in January.

The decline was due in large part to a 28.2 percent decrease in its goods deficit with China as exports to the nation surged. Exports to China rose $1.6 billion to $9.2 billion while imports fell $1.5 billion to $39.3 billion. That brought the total deficit with China to $30.1 billion.

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