Imports decreased by a record 16.3% to $351.0 billion in April. Goods imports slumped by a record 19.9% to $277.9 billion, held down by a $33.0 billion decline in consumer goods, mostly pharmaceutical preparations from Ireland.

U.S. filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers

The number of Americans filing new applications for unemployment benefits increased to a seven-month high last week, pointing to softening labor market conditions amid mounting economic headwinds from tariffs.