US trade deficit widened to $50.1 billion in July

By PAUL WISEMAN

Published September 05, 2018

The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China set a record.

The Commerce Department says the deficit in goods and services — the difference between what America sells and what it buys from other countries — rose to $50.1 billion in July from $45.7 billion in June. Exports slipped 1 percent to $211.1 billion. Imports increased 0.9 percent to a record $261.2 billion.

The deficit rose despite efforts by President Donald Trump to bring it down by re-negotiating trade agreements and imposing taxes on imports.

The goods deficit with China rose 10 percent to a record $36.8 billion. The gap with Mexico plunged 25 percent to $5.5 billion.

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