The U.S. trade deficit narrowed less than expected in July as the trade war between the United States and China drags on.
The Bureau of Economic Analysis (BEA) said Wednesday the U.S. international trade deficit came in at $54 billion for July. Economists polled by Dow Jones expected the deficit to narrow to $53.48 billion.
China’s deficit with the U.S. decreased by $500 million in July to $29.6 billion, the Bureau of Economic Analysis said.
Trump has made lowering the U.S. trade deficit a priority. However, the shortfall has actually increased by 8.2% to $28.2 billion from the same period in 2018, according to the BEA.
