Economics
U.S. Trade Gap Widens Most Since 2015; Record China Deficit
- Exports fall on aircraft, soybeans, while imports advance
- As trade war widens, increasing deficit would drag on growth
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The U.S. trade deficit widened in July by the most in three years and the gap with China hit a record as the Trump administration imposed tariffs on a range of Chinese goods, prompting retaliatory levies from Beijing.
The gap increased 9.5 percent to $50.1 billion, the biggest since February, from a revised $45.7 billion in the prior month, Commerce Department data showed Wednesday. Exports fell 1 percent, driven by steep drops in shipments of aircraft and soybeans, while imports rose 0.9 percent in a broad-based gain.