The US trade deficit narrowed by about 24 per cent in August as sweeping tariffs imposed by President Donald Trump reduced imports, according to a delayed Commerce Department report released Wednesday. According to Associated Press, citing the report, the trade gap fell to $59.6 billion in August from $78.2 billion in July. Imports declined 5 per cent to $340.4 billion as businesses slowed purchases from abroad after stockpiling goods ahead of tariffs that took effect on August 7. Exports rose 0.1 per cent to $280.8 billion. Trump has upended decades of US free-trade policy by levying broad duties on most trading partners as well as on products such as steel, copper and automobiles. He argues that chronic trade deficits reflect foreign nations exploiting the US. Economists say tariffs

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