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US trade deficit drops; exports achieve record high

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The U.S. trade deficit reduced sharply in March, as exports increased to a record high due to an increase in exports of commercial aircraft and soybeans.

The Commerce Department said last week that the trade gap dropped 15.2 percent to $49.0 billion, the lowest level since September.March’s decline ended six straight monthly increases in the trade deficit.

The politically sensitive goods trade deficit with China reduced by 11.6 percent to $25.9 billion, which will probably do little to ease tensions between the United States and China.