Prior month -$46.3B revised to -$45.7B

The US trade balance for July came in around expectations at $-50.1 billion versus $-50.2 billion estimate

  • The prior month was revised to a deficit of -$45.7 billion. It was originally reported at US$-46.3 billion
  • exports fell -1% versus -0.7% in June
  • imports rose 0.9% versus +0.7% in June
  • the July goods deficit came in at -$73.14 billion. The service sector surplus was US$23.06 billion
  • July Will goods imports totaled $58.16 billion versus $57.49 billion in June
  • US /China trade deficit -$36.83 billion versus US$-33.48 billion
  • US/OPEC trade deficit -$3.46 billion versus June deficit -$1.83B

The rise in the deficit with China is the highlight. It represents -$36.83B of the -$50.1B and will likely push the Pres to enacting more tariffs on China over the next few days in order to pressure them to come to the table and negotiate another deal.