U.S. trade deficit rises to highest level since January; analysts expect AI from Apple at developers conference

The U.S. trade deficit rose in April to the highest level since January. The politically sensitive trade gap with China registered a sharp increase. The Commerce Department said on Friday that the U.S. trade gap in goods and services climbed 5.2 percent to $47.6 billion in April from March. Exports dropped 0.3 percent to $191 billion, pulled down by a drop in automotive exports. Imports rose 0.8 percent to $238.6 billion as Americans bought more foreign-made cellphones and other goods.