A report released by the Commerce Department on Wednesday showed the U.S. trade deficit widened significantly in the month of April.
The Commerce Department said the trade deficit increased to $74.6 billion in April from a revised $60.6 billion in March.
Economists had expected the trade deficit to jump to $75.2 billion from the $64.2 billion originally reported for the previous month.
The wider trade deficit came as the value of exports plunged by 3.6 percent to $249.0 billion, while the value of imports surged by 1.5 percent to $323.6 billion.
