The Advance Economic Trade Report (Goods Only), shows The international trade deficit was $72.2 billion in July, up $4.3 billion from $67.9 billion in June.
Exports of goods for July were $140.0 billion, $2.5 billion less than June exports.
Imports of goods for July were $212.2 billion, $1.8 billion more than June imports.
The Advance report is goods only the full report is goods plus services.
Trump will not be pleased.
Mike “Mish” Shedlock
Exporting more inflation (dollars).
Will only get worse as the Fed continues to tighten.
Their 2% inflation “target” will continue to be missed.
Strong dollar is going to kill exports for the foreseeable future. Jerome is driving a dagger into the heart of Trump’s vampire economy.
Question….could firms have imported more in the past month in an attempt to avoid tariffs to be implemented?