U.S. Economic Indicators

The U.S. trade deficit decreased from $51.1 billion in January (revised) to $49.4 billion in February. The goods deficit fell by $1.2 billion while the services surplus increased by $0.5 billion. Census Bureau Report

U.S. News

The Financial Times reports that the U.S. and Japan have agreed to accelerate trade talks by narrowing the focus to agriculture and digital trade. The biggest area of contention is the automobile sector as Japan pushes for lower tariffs on finished cars and parts, and the U.S. aims to reduce its trade deficit with Japan. FT

The Wall Street Journal reports that China posted higher-than-expected first quarter GDP growth of 6.4%, driven by stronger industrial production, retail sales, and property investment. China’s unexpectedly strong performance also reflects the government’s efforts to stimulate the economy through targeted stimulus, tax cuts, and red-tape reductions. WSJ