Source: The New York Times
Summary
The U.S. trade deficit increased in July to its highest level in over a year, according to the Commerce Department. The gap between imports and exports reached $79.5 billion, up from $75.3 billion in June. The rise was driven by a surge in imports, particularly from China and Mexico. President Trump criticized the figures, calling them unacceptable and blaming foreign nations for unfair trade practices.
Our Reading
The trend returns with a new name.
Trade deficits have long been a political flashpoint.
July’s numbers echo past cycles of economic frustration.
Leaders continue to frame the issue as a battle of fairness.
The same complaints, different decade.
Author: Evan Null
