Trump's favorite trade scorecard worsened in May as exports hit lowest level since 2009

• The US goods and services deficit — touted by President Trump as the top trade scorecard — widened to $54.6 billion in May from $49.8 billion, the Commerce Department announced Thursday.
• Exports plummeted to $144.5 billion from $151.1 billion to hit its lowest level since November 2009. Imports shrank $1.8 billion to $199.1 billion.
• The US deficit with China swelled $1.9 billion to $27.9 billion, driven by a sharp increase in import activity.
• "We anticipate that trade activity will stage a slow recovery in the months ahead as global lockdowns ease," Oxford Economics said, adding that new virus hotspots in the US pose significant downside risks.
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US trade activity plummeted in May as coronavirus lockdowns continued to freeze shipping activity and consumer demand.

The country's goods and services deficit widened to $54.6 billion in May from a revised $49.8 billion, the Commerce Department announced Thursday. The shortfall — often touted by President Donald Trump as the top trade-war scorecard — now sits at its highest since December 2018.See the rest of the story at Business Insider

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