December’s $1.3B trade deficit was lighter than expected, improving over last month’s print…

… on the back of a 3% gain in exports, led by an 18% increase in metal and mineral products and a 26% gain in aircraft deliveries…

… business jets in particular, which drove a record print and make the timing of Trump’s 50% tariff threat (being resolved)… interesting.

Imports increased to a lesser degree (1%), with a 12% bump in vehicle shipments…

… carrying results, driven by non-U.S. activity (Mexico & the Netherlands).

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