U.S. trade deficit plunges 16.9% in February

April 2, 2015 2:24 PM

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WASHINGTON (AP) — The U.S. trade deficit plunged in February as both imports and exports sank, driven by a since-settled trade dispute and a global economic slowdown that has cut into oil prices and caused the dollar to rise in value.

The Commerce Department said Thursday that the deficit plummeted 16.9% to $35.4 billion in February, down from $42.7 billion in January.

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