U.S. goods imports dropped significantly in April, according to data released Thursday. The decline marks the largest monthly decrease on record, attributed to tariff policies affecting global trade dynamics. This reversal follows a previous month’s surge in imports as companies rushed to bring in goods ahead of tariff implementation. Despite the sharp decline, imports remain higher than the same period last year. Trade with China reached its lowest point since the pandemic began, with April imports from China at $25.4 billion, the lowest since March 2020. Exports to China also fell sharply. Analysts suggest the data does not indicate economic weakness but rather reflects inventory adjustments following tariff-related stockpiling.
— new from Axios
