And with US goods facing retaliatory tariffs in many countries, exports dropped sharply that month, the Commerce Department reported.
The difference between imports and exports of goods and services jumped more than $4 billion, an increase of 9.5 percent, to $50.1 billion. DM
This article is more than 7 years old
Business Maverick
US trade deficit surges to $50.1 bn in July on record imports
The US trade deficit surged in July on record imports that created burgeoning gaps with trading partners in the crosshairs of President Donald Trump's aggressive policies, according to government data released Wednesday.
