U.S. TRADE DEFICIT DROPS TO $43.1B IN MAY

» The U.S. trade deficit WASHINGTON dropped in May to the lowest level in 19 months as U.S. exports rose to a record level. But the trade gap between the United States and China increased sharply, underscoring the economic tensions between the world’s two biggest economies.

The Commerce Department says the May trade deficit — the difference between what America sells and what it buys in foreign markets — fell 6.6 percent to $43.1 billion. It was the smallest imbalance since October 2016.

Exports climbed 1.9 percent to a record $215.3 billion. Imports were up a smaller 0.4 percent to $258.4 billion.

Leandra English, who sued Trump, to resign from CFPB. » Leandra NEW YORK English, the deputy director of the Consumer Financial Protection Bureau who unsuccessfully sued President Donald Trump for control of the consumer watchdog agency, said Friday she plans to resign next week.

English was the chief of staff for Richard Cordray, President Barack Obama’s director of the bureau. She was promoted to deputy director shortly before Cordray resigned in late November. Citing the law that created the bureau, English and Cordray both argued that she was now the acting director of the bureau.

President Trump, citing longstanding laws over presidential appointees, named his budget director, Mick Mulvaney, as acting director of the bureau. It created a standoff between the White House and the CFPB, and it was unclear for several days who was actually in charge of the bureau.

Germany’s top court OKs use of VW documents in diesel probe. » Germany’s BERLIN highest court says investigators can examine internal documents seized last year from automaker Volkswagen as part of a probe into the diesel emissions scandal.

The Federal Constitutional Court on Friday dismissed a legal complaint from Volkswagen seeking to block authorities from using the documents for their investigation.

Volkswagen has been embroiled in a scandal involving its diesel vehicles since 2015, when U.S. authorities revealed the company had used engine software to cheat on emissions tests.

The scandal has also already cost Volkswagen $20 billion in fines and civil settlements in the United States.

— Denver Post wire services