The US trade gap narrowed sharply to $61.6 billion in April 2025, the lowest since September 2023, compared to a $138.3 billion gap in March. Imports shrunk 16.3% to a six-month low of $351 billion, after jumping to an all-time high of $419.4 billion in March in anticipation of more tariff announcements. The biggest declines were seen in purchases for pharmaceutical preparations, finished metal shapes, passenger cars and cell phones and other household goods. Meanwhile, exports rose 3% to a record $289.4 billion, led by sales of finished metal shapes, nonmonetary gold and computers. The biggest trade deficit was recorded with China ($-19.7 billion), although it decreased sharply from a $24.2 billion gap in March. The shortfall with the EU also plunged to $17.9 billion from $48 billion while the deficit with Vietnam widened a bit ($14.5 billion vs $14 billion). The shortfalls with both Canada ($-2.6 billion vs $-4.9 billion) and Mexico ($-13.5 billion vs $-16.9 billion) also narrowed.