Trade Deficit Shrinks For Fourth Straight Month

The U.S. trade deficit narrowed in October to its lowest point of the year as Americans bought fewer foreign cars and imported less oil. Exports of American-made autos also fell.

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LINDA WERTHEIMER, HOST:

NPR's business news starts with a shrinking trade gap.

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WERTHEIMER: The U.S. trade deficit narrowed in October to its lowest level of the year have gap between what we buy from other countries and what other countries buy from us was $43.5 billion, the Commerce Department said today. The deficit narrowed mostly because the U.S. imported less oil and fewer foreign cars.

But the trade deficit with China grew slightly. China remains the trading partner with which the U.S. has the greatest imbalance.

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