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WASHINGTON, Sept 4 - The U.S. trade deficit widened to the highest level in more than two years in July as businesses likely front-loaded imports in anticipation of higher tariffs on goods, suggesting trade could remain a drag on economic growth in the third quarter.
The trade gap increased 7.9% to $78.8 billion, the widest since May 2022, the Commerce Department's Bureau of Economic Analysis said. Economists polled by Reuters had forecast the trade deficit would increase to $79.0 billion from the previously reported $73.1 billion in June. President Joe Biden's administration has announced plans to impose steeper tariffs on imports of Chinese electric vehicles, batteries, solar products and other goods.
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