US trade deficit drops 3.9% in March as exports reach all-time highs

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The US enjoyed a bumper crop of exports in March ? the second highest level on record, according to the Department of Commerce. Led by aircraft, automotives and farm goods, the trade deficit narrowed, which is expected to boost overall economic growth. Exports to Canada and South Korea rose to all-time highs. Imports also saw growth, but on a more modest level of 1.1%.