#USTradeDeficitShrink The US trade deficit shrank to its lowest level since 2009 in October, dropping 39% to $29.4 billion. This unexpected decrease was largely due to a 3.2% decline in imports, driven by reduced shipments of pharmaceuticals and non-monetary gold. Exports, on the other hand, rose 2.6% to a record $302 billion, with goods exports jumping 3.8% to $195.9 billion.

President Trump's tariffs are being credited for this shift, as businesses rushed to stock up on inventory ahead of planned duty hikes, allowing many firms to avoid passing on the full cost to consumers. However, some of these tariffs face legal challenges, and a Supreme Court ruling is pending. ¹ ² ³

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