Record exports cut U.S. trade deficit

Those jobs aren't coming back, said Barack Obama, genius.

"Record exports trimmed the U.S. trade deficit in March, the first drop in seven months in a massive gap that President Donald Trump is determined to shrink with an aggressive America first policy," the Associated Press reported today.

Trump's magic wand continues to baffle liberals.

The monthly deficit was $49 billion in March, down from $57.7 billion in February.

"Top administration officials are visiting Beijing this week for talks aimed at reducing America’s huge trade deficit in goods with China, which fell 11.6 percent in March to $25.9 billion. Trump is threatening to slap tariffs on up to $150 billion in Chinese products, and the Chinese have targeted $50 billion in U.S. products, including soybeans and small aircraft," the Associated Press reported.

"The administration is also seeking to renegotiate the North American Free Trade Agreement with Mexico and Canada, and has slapped tariffs on imported steel and aluminum."

Canada and Mexico were among the nations exempted. South Korea agreed to a quota in lieu of a tariff.

"In a separate report, the Labor Department said initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 211,000 for the week ended April 28," Reuters reported.

"Claims remained near a more than 48-year low of 209,000 touched during the week ended April 21. The labor market is considered to be near or at full employment. The unemployment rate is at a 17-year low of 4.1 percent, close to the Fed’s forecast of 3.8 percent by the end of this year.

"The number of people receiving benefits after an initial week of aid dropped 77,000 to 1.76 million in the week ended April 21, the lowest level since December 1973."

Just remember, those jobs are not coming back. Obama the Oracle said so.