August Trade Battle Lost as U.S. Goods Deficit Hits Record on Bean and Car Slump — Panjiva
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August Trade Battle Lost as U.S. Goods Deficit Hits Record on Bean and Car Slump

Ags - Grains/Beans 162 China 1758 Cons. Discr. - Autos 661 Energy - Crude Oil 194 Industrials - Aero/Defense 132 Tariffs 1169 Trade Balance 657 U.S. 3297

The U.S. trade deficit surged 21% higher in August vs. a year earlier, including a 17% jump in the goods deficit to a record $77 billion. The most significant gain in the goods deficit was with China with an 11% increase to $39 billion. The widening trade war between the U.S. and China did not appear to go America’s way in August. Imports rose by 5% while exports to China fell by 14%, the first decline since January. Much of that was accounted for by four product groups including a 95% slump in soybeans and a 56% drop in passenger car exports resulting from retaliatory duties. State-owne...

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