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US: US trade deficit widens more than expected in July
Storyline: The U.S. Commerce Department released a report on Thursday showing that the U.S. trade deficit enlarged to 78.3 billion U.S. dollars in July, up from the revised 59.1 billion dollars in June, and higher than economists' forecast of 77.9 billion dollars. The U.S. trade deficit widened in July to a four-month high as companies raced to import goods and materials before U.S. President Donald Trump unveiled new tariffs on global trading partners, local media reported Thursday. A sharp increase in non-monetary gold shipments, partly in anticipation of new tariffs, has also contributed to the overall rise in imports. To be specific, U.S. imports in July rose by 5.9 percent to 358.8 billion dollars, while exports increased by 0.3 percent to 280.5 billion dollars. U.S. goods trade deficit increased by 18.2 billion dollars to 103.9 billion dollars in July, while services surplus decreased by 1.1 billion dollars to 25.6 billion dollars. The same scramble happened in April, when companies stocked up in the first quarter to beat the high tariffs, turning tariff avoidance into a major driver of significant fluctuations in U.S. trade data. Shotlist: FILE: Washington D.C., USA - October 2024: 1. White House 2. Various of Capitol Hill 3. Various of exterior of U.S. Department of Commerce, U.S. national flag FILE: Los Angeles, California, USA - April 7, 2025: 4. Various of residents walking with shopping carts at supermarket parking lot, loading groceries onto cars FILE: Racine, Wisconsin, USA - December 2019: 5. Various of workers in farming machinery factory FILE: New York City, USA - Oct 2024: 6. Various of traffic FILE: Los Angeles, USA - May 2025: 7. Various of scenes at Port of Los Angeles FILE: Los Angeles, USA - Date Unknown: 8. Various of port scene; containers, vessel FILE: New York City, USA - Oct 2024: 9. Various of port, Statue of Liberty. [Restrictions : No access Chinese mainland]
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