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Some states look at prediction markets online and say, wait, isn't that just betting?

I'm David Brancaccio in Los Angeles. First, there's news the difference between what America imports and what it exports shrank by the most ever recorded in a single month.

Goods and services imports wayorts way, way down.

But to understand what really happened in April, you have to appreciate what happened the month before, given changing trade policy.

Diane Swank is chief economist at the audit tax and advisory firm, KPMG.

It's a bit of whiplash here.

We saw 55.5% narrowing of the trade deficit in April.

That is simply stunning.

And it follows the largest widening of the trade deficit in the first quarter on record.

Now, a big part of that narrowing was a reduction in imports from Ireland, of all places.

Well, guess what we get from Ireland, pharmaceuticals?

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