The figures also provided the first look at how new tariffs the Trump administration put into place on more than $100 billion of Chinese goods on Sept. 1 have affected trade. Compared with the previous month, both imports and exports of goods to China ticked down in September as the new levies went into effect.
“In a very narrow sense, higher tariffs on China are working: They clearly have reduced trade and thus the trade deficit with China,” Brad Setser, an economist at the Council on Foreign Relations, wrote on Twitter.
In September, the overall trade deficit in goods and services narrowed slightly from August to $52.5 billion, continuing several months of decline as imports fell more than exports. But economists typically caution against reading too much into figures from a single month, which can be volatile.
The new data come as Trump administration officials weigh whether to further roll back tariffs placed on more than $360 billion of Chinese goods in order to clinch a so-called phase one deal in the coming weeks.
President Trump announced on Oct. 11 that he had reached a verbal agreement with China on an interim pact that the two sides would sign. The deal would increase Chinese protections for American intellectual property, open up Chinese financial markets and ensure large Chinese purchases of American agricultural goods, Mr. Trump said.
The two sides intended to sign that deal at a summit of global leaders in Santiago, Chile, in mid-November. But last week, Chile canceled the summit because of domestic protests.