Tariffs lead to low trade deficit

(CNN)– A new report shows the October trade deficit was the lowest since 2009.

The Commerce Department says it was about $29 billion.

That’s roughly half what economists expected, according to a consensus estimate from Factset.

Experts say the low deficit could boost the fourth quarter GDP.

New tariffs are causing trade volatility as U.S. businesses try to figure out sourcing and prices.

Some experts think duties could be especially hard on American consumers this year as retailers run out of pre-tariff stockpiles.