Unlucky 13% for China, NAFTA and EU as American Deficit Surges Ahead of Duties — Panjiva
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Unlucky 13% for China, NAFTA and EU as American Deficit Surges Ahead of Duties

Canada 338 China 1761 European Union 407 Mexico 505 Tariffs 1172 Trade Balance 657 Trade Deals 703 U.S. 3306 USMCA 374

The U.S. trade deficit climbed 13% in July vs. a year earlier including a tariff- and currency-driven rise of 12% in the goods deficit. A slowdown in the rate of services export growth to 5%, the slowest in a year, reflected declining fortunes in transport and insurance. From a trade policy perspective the merchandise deficit – the Trump administration’s main trade metric – climbed with most counterparties. In particular the deficit vs. China widened 10% to a one-month record of $37 billion. That expansion was outpaced by NAFTA (including a doubling of Canada’s surplus vs. America) and t...

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