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US trade deficits narrows after exports reach record high

America’s trade deficit with the rest of the world narrowed substantially in March, with exports striking the highest level on records that go back 26 years.

The trade deficit slid to $48.96bn in March from $57.7bn in the previous month, according to data from the Commerce Department. Economists in a Reuters poll had forecast a trade gap of $50.1bn.

Exports rose 2 per cent in March from February to $208.5bn, while imports slipped 1.8 per cent to $257.5bn.

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