Free Republic

The U.S. trade deficit in goods and services narrowed sharply in April, falling to $61.6 billion from $138.3 billion in March—the largest monthly improvement on record—driven by a steep drop in imports and continued strength in American exports. The 16.3 percent decline in imports, the biggest on record, coincided with the introduction of new U.S. tariff schedules and followed months of accelerated purchasing by companies anticipating higher duties. Analysts noted that much of the shift reflected a hangover after months of elevated imports as businesses rushed to bring in goods ahead of the tariff hikes. At the same time, exports...

AUGUSTA — Maine ended its budget year on June 30 a little more in the red than forecast, but better off than some officials had feared. There are still concerns, however, that the state revenue shortfall could get worse in the new budget year. Figures released Thursday by state Finance Commissioner Janet Waldron put the deficit at just under $93 million. “That is a preliminary number, but I think it will be very close to that,” said Waldron. She had forecast a $90 million shortfall, but some state officials had feared the deficit could reach as high as $115 million....