The U.S. trade deficit surged in July to its highest level in four months as American businesses rushed to import goods ahead of expected tariff increases, the Commerce Department said Thursday.
The gap between what America sells abroad and what it buys from other countries jumped to $78.3 billion, a 32.5 percent increase from June’s revised $59.1 billion. It was the sharpest monthly deterioration in nearly a year.
The surge was driven almost entirely by imports, which climbed $20 billion to $358.8 billion, while exports rose just $800 million to $280.5 billion.
Much of the import increase reflected panic buying ahead of new tariffs announced…
Read the full article at BREITBART.COM
