US goods imports fell by the most on record in April, plunging by nearly a fifth as President Donald Trump’s tariffs prompted companies to slam the brakes on shipments to the world’s biggest economy.
Imports of goods for April totalled $276.1bn, down 19.8 per cent from March, according to the Census Bureau’s advance economic indicators report, released on Friday.
The drop is the largest in the bureau’s data dating back to 1992 and marks a stark turnaround from March, when companies rushed to buy foreign goods before Trump’s April 2 “liberation day” tariffs announcement.
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