Chart of the Day: U.S. Trade Deficit Grows After Tariffs

The U.S. trade deficit in goods widened in July, as imports increased and exports declined amid escalating tensions with major trading partners.

The U.S. trade deficit in goods stood at $72.2 billion in July, reaching its highest level in five months, according to data from the U.S. Commerce Department’s Census Bureau. This reading was 6.3% higher than June, marking the biggest jump in two years.