The U.S. trade deficit declined sharply in February as imports from China fell by a record amount and American exports rose for a third straight month.
The U.S. Commerce Department says the deficit fell to $43.6 billion in February, or 9.6% lower than January's deficit of $48.2 billion.
Exports rose a tiny 0.2% to $192.9 billion U.S. Imports dropped 1.8% to $236.4 billion as the flow of Chinese goods tumbled by $8.6 billion U.S., led by a big drop in cellphone imports.
The politically-sensitive trade deficit with China narrowed to $23 billion, or a whopping 26.6%below the January total. President Donald Trump, sharply critical of Chinese trade practices during last year's presidential campaign, will hold his first meeting with Chinese President Xi Jinping later this week in Florida.
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