United States: record trade deficit in July

• Tweeter

• republish

The US trade deficit has been accentuated by record imports mainly from China and the European Union. Here, Chinese container ships in the port of Oakland California (illustration). REUTERS / Beck Diefenbach

The US trade deficit continues to worsen. According to the figures published by the department to trade, it increased by 9.5% in July, an unprecedented increase since March 2015. The commercial standoff initiated by President Donald Trump with his trading partners is as far as to now ineffective.

The US trade deficit is just over $ 50 billion in July, driven by record imports, mostly from China and the European Union. Two partners with whom the administration of Donald Trump is engaged in a commercial conflict to obtain the reduction of the American deficit.

Since March, the White House has imposed additional customs duties on Chinese, European, Canadian and Mexican steel and aluminum. The US president also imposed this summer 25% taxes on $ 50 billion worth of Chinese goods.

In retaliation, China and the European Union have imposed tariffs on US products, particularly in the food and agricultural sector.

With these new figures of the US deficit, the trade conflict could intensify. The US president has already threatened to tax up to $ 200 billion in Chinese imports if the situation does not change.

And the resumption of negotiations between Washington and Ottawa on the reform of the Alena may be under high tension, the US deficit with its northern neighbor has widened by more than 24% in July.