President Trump withdraws the US from international organizations
President Trump’s decision to withdraw the United States from 66 major world organizations includes United Nations talks on climate change and oceans.
The US trade gap narrowed in October, according to a government report released on January 8th.
The goods and services trade deficit was $29.4 billion, down 39% from $48.1 billion in September, as tariffs restricted the flow of goods around the world.
According to the Commerce Department, imports fell 3.2% to $331.4 billion, while exports rose 2.6% to $302 billion. Trading Economics consensus had expected the deficit to widen further, to $58.9 billion.
Reducing the trade gap, particularly by promoting U.S. exports, is a key goal of the White House’s aggressive tariff policy, but some experts warn that October’s numbers may not reflect that.
“Ultimately, this sharp contraction in the trade deficit in October was almost entirely driven by the movement in gold,” Wells Fargo economists wrote in an analysis published after the release. This unusual measure is likely to be rescinded in the coming months.
“The government has not yet caught up with the release of economic data that was delayed during the shutdown. It will still be several months before we get our first confirmation of trade flows in 2026,” he added.
