Good morning. The US trade deficit fell 55 per cent in April, according to the commerce department. There was a noticeable uptick in exports, but the overall decline was mostly due to a drop in imports — pharmaceutical and gold bullion imports, in particular. Remember the argument that last quarter’s negative GDP reading would net out later this year, as tariff front-running recedes? That seems to be happening. Email us: unhedged@ft.com.
早上好。根據美國商務部的數據，4月份美國貿易逆差下降了55%。出口有所回升，但整體下降主要是由于進口減少，尤其是醫藥產品和金條的進口。還記得之前有人認為，上季度GDP為負的情況會隨著今年晚些時候關稅搶跑效應的消退而得到抵消嗎？現在似乎正在發生這種情況。歡迎給我們發郵件：unhedged@ft.com（風險管不管）。
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