U.S. trade deficit drops 24% in August as Trump’s tariffs reduce imports

The U.S. trade deficit fell by nearly 24% in August as President Donald Trump’s sweeping global tariffs pushed imports lower.

In a report delayed for more than seven weeks by the federal government shutdown, the Commerce Department said Wednesday that the the gap between what the United States buys from other countries and what it sells them fell to $59.6 billion in August, from $78.2 billion in July.

Imports of goods and services dropped 5% to $340.4 billion in August from July when U.S. companies were stocking up on foreign products before Trump finalized taxes on products from almost every country on earth. Those levies went into effect Aug. 7...