Traders work on the floor of the New York Stock Exchange (NYSE) on September 03, 2025 in New York City. (Photo by SPENCER PLATT / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
New York: The US Commerce Department released a report on Thursday showing that the US trade deficit enlarged to 78.3 billion US dollars in July, up from the revised 59.1 billion dollars in June, and higher than economists' forecast of 77.9 billion dollars.
The US trade deficit widened in July to a four-month high as companies raced to import goods and materials before U.S. President Donald Trump unveiled new tariffs on global trading partners, local media reported Thursday.
A sharp increase in non-monetary gold shipments, partly in anticipation of new tariffs, has also contributed to the overall rise in imports.
To be specific, US imports in July rose by 5.9 percent to 358.8 billion dollars, while exports increased by 0.3 percent to 280.5 billion dollars.
US goods trade deficit increased by 18.2 billion dollars to 103.9 billion dollars in July, while services surplus decreased by 1.1 billion dollars to 25.6 billion dollars.
