U.S. trade deficit shrinks, gap with China remains elevated


(Worthy News) – The U.S. trade deficit narrowed slightly in July, but the gap with China, a focus of the Trump administration’s “America First” agenda, surged to a six-month high.

The report from the Commerce Department on Wednesday came against the backdrop of an escalation in the trade war between the United States and China. The two economic giants slapped fresh tariffs on each other on Sunday, fanning fears of a global recession. President Donald Trump on Tuesday warned he would be “tougher” on Beijing in a second term if trade talks dragged on. [ Source: Reuters (Read More…) ]

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