The US trade deficit surged to $88.6 billion in July, a 24.4% jump from June’s $71.2 billion, the widest gap since March 2025. Exports fell 2.1% to $310.7 billion, with crude oil shipments down $4.5 billion and nonmonetary gold exports declining $3.9 billion. Meanwhile, imports climbed 2.8% to $399.3 billion, driven by computer imports surging $6.9 billion and computer accessories jumping $6.6 billion. The largest bilateral deficits were with Mexico at $26.3 billion, Vietnam at $24.8 billion, and Taiwan at $20.7 billion. The spike in technology imports may prove temporary if companies were simply front-loading chip and computing hardware inventories ahead of potential tariff changes.
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