Trump Declares 'Unprecedented Success' as US Trade Deficit Plummets to 2009 Low
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News18•09-01-2026, 07:42
Trump Declares 'Unprecedented Success' as US Trade Deficit Plummets to 2009 Low
- •US President Donald Trump hailed the country's trade deficit hitting its lowest level since 2009 as an "unprecedented success."
- •Commerce Department data shows the trade gap narrowed to $29.4 billion in October, a sharp 39% decline from the previous month.
- •The improvement was driven by a 2.6% rise in exports and a 3.2% fall in imports.
- •Trump attributed the economic success, including predicted 5% GDP growth, directly to his tariff policies.
- •Despite recent gains, the cumulative trade deficit for the year remains 7.7% higher than the same period in 2024.
Why It Matters: Trump credits tariffs for US trade deficit hitting its lowest level since 2009 amidst economic growth.
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