The CMA CGM Marco Polo, an Explorer class container ship crosses under the Verrazzano-Narrows Bridge, to enter New York Harbor as seen from Brooklyn, New York, U.S., May 20, 2021.
Americans' demand for imports abated in April, easing the U.S. trade deficit from the record level it had hit the month before, according to Census Bureau data released Tuesday.
The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March, the highest level for a data series that stretches back to January 1992.
While exports increased 1.1% to $205 billion, imports declined 1.4% to $273.9 billion, which equated to an 8.2% decline in the trade deficit.
Even with the monthly decrease that still left the trade imbalance 30% higher than the year-ago level, a time when the U.S. economy largely remained in shutdown mode due to harsh restrictions imposed on businesses in an effort to control the Covid-19 pandemic.
New York, Brooklyn , New York, U.S