Tariffs prompt record plunge in US imports

US imports experienced a record 20% decline in April due to the impacts of tariffs imposed by President Donald Trump. The decrease in imports from major trade partners like Canada and China has led to a significant reduction in the US trade deficit. Trump's strategy of raising import taxes on various goods aims to boost domestic manufacturing and strengthen trade negotiations. The abrupt changes in trade policies have caused disruptions in various sectors, leading to significant declines in imports of products like cars, pharmaceuticals, consumer goods, and more.