It isn’t good news for President Donald Trump on trade.
Despite reaching a bilateral trade agreement with Mexico, and potentially entering into a trilateral agreement with Canada, the trade deficit isn’t getting any better for the United States.
According to the latest data, the Goods Trade Deficit reached $72.2 billion in July, higher than the $69 billion forecast. This is the biggest deficit since the previous record in March. It is also the largest monthly increase since March 2015.
In June, exports fell 1.7% to $140 billion and imports jumped 0.9% to $212.2 billion.
It appears that the president’s policies are not working.
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