The United States’ international trade in goods and services activity slipped 0.2% year over year in July. The trade-in-goods deficit fell as the result of a 1.1% slide in imports and there was a reduction in the services surplus due to lower travel and transport exports. The latter may be linked to trade tensions with China and meant the overall trade deficit increased to $53.9 billion from $52.4 billion a year earlier. A drop in goods exports to China of 13.8% outpaced an imports decline 11.9%, but there was nonetheless an improvement in net exports in dollar terms – imports outscale e...