US Trade Deficit Widens Despite Trump's Tariffs: What August Data Tells Us
The trade shortfall rose 13.7% from the previous month to $105.6 billion, according to data released by the Commerce Department's Bureau of Economic Analysis and Census Bureau on Tuesday. Economists polled by Reuters had expected the deficit to reach $102 billion.
The increase was driven largely by a surge in imports. Total imports rose 4.3% to $420.8 billion in August, while exports increased 1.4% to $315.2 billion.
Goods imports climbed 5.3% to $342.2 billion, compared with a 2.2% increase in goods exports to $205.7 billion.
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