The U.S. trade deficit widened in August for the first time in three months as exports increased but imports increased more. The politically sensitive gap with China in the trade of goods narrowed.
The Commerce Department said Friday that the gap between what the United buys and what it sells abroad rose 1.6% to $54.9 billion from $54 billion in July. The deficit had fallen in June and July. But it is still up for the year despite President Donald Trump’s attempts to push it down by imposing taxes on imports and waging a trade war with China.
From January through August, the deficit rose 7% to $428.7 billion from $400.4 billion a year earlier. The U.S. and China are locked in a dispute over American allegations that Beijing uses predatory tacitcs — including outright cybertheft — in a drive to supplant U.S. technological dominance. Trump has slapped tariffs on more than $360 billion in Chinese imports and is planning to hit another $160 billion in December. China has retaliated with its own tariffs on American products.
In addition to sparring with China, Trump also has imposed import taxes on foreign steel and aluminum and is threatening to tax imported autos too.
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