US Trade Deficit Reaches Five Month High
The United States' trade deficit with other countries rose to a five-month high in July.
At the same time, the U.S. trade deficit with China hit a record high.
Economists say the latest numbers could influence the Trump administration to carry out its "America First" trade policies more aggressively.
The administration's protectionist policies have left the United States in disputes with the European Union, Canada, Mexico and China. President Donald Trump says the United States is being used by its trading partners.
The U.S. Commerce Department reported the rise in the trade deficit Wednesday. Its report came a day before the end of a public comment period about a list of $200 billion worth of Chinese goods. The U.S. government is expected to announce tariffs on those products.
"America still isn't getting a fair deal on trade and that can only mean one thing," said Chris Rupkey, chief economist at the MUFG financial group in New York.
"President Trump is going unleash another $200 billion in tariffs on China imports," he said.
The Commerce Department report said the trade deficit increased 9.5 percent to $50.1 billion in July. This happened as exports of soybeans and civilian aircraft dropped, while imports hit a record high. The trade deficit has now widened in each of the past two months.
The government announced import duties on goods including steel, aluminum, washing machines and solar panels earlier this year. It said the move was to protect American industries from what Trump says is unfair foreign competition.
The United States and China each have put retaliatory tariffs on a combined $100 billion worth of products since early July.
The Trump administration also wants to rework the North American Free Trade Agreement. The United States struck a deal with Mexico last week, but negotiations with Canada have been difficult.
The administration says ending the trade deficit will put the economy on a path of faster growth. But economists say some of the government's policies, such as a $1.5 trillion tax cut earlier this year, will worsen the trade deficit.
The trade deficit narrowed in April and May as farmers increased soybean exports to China before its tariffs on American products came into effect in early July.
Record high imports
After considering inflation, the trade deficit increased to a five-month high of $82.5 billion in July from $79.3 billion in June.
The goods trade deficit with China grew 10 percent to a record $36.8 billion in July. The trade gap with Mexico dropped 25.3 percent to $5.5 billion while the gap with Canada rose 57.6 percent to $3.1 billion. The trade deficit with the European Union rose 50 percent to a record high of $17.6 billion.
In July, U.S. exports of goods and services fell one percent to $211.1 billion. However, imports of goods and services increased 0.9 percent to a record $261.2 billion. They were helped by imports of computers and computer parts. Total imports were higher, in part, thanks to petroleum imports, which were the highest since December 2014 because of higher oil prices.
I'm Caty Weaver.
1.trade deficit 贸易逆差；贸易赤字
Exports are dwindling and the trade deficit is swelling.
2.in part 部分地；某种程度上
The levels of blood glucose depend in part on what you eat and when you eat.
3.thanks to 由于；幸亏
I would like to propose a vote of thanks to our host.
4.foreign competition 国外竞争
They are always bleating about 'unfair' foreign competition.
5.At the same time, the U.S. trade deficit with China hit a record high.
hit a record high 创历史最高纪录
The yen hit a record high in trading today.
This month, the franc hit a record high against the euro.
6.At the same time, the U.S. trade deficit with China hit a record high.
At the same time 同时
I was afraid of her, but at the same time I really liked her.
It's impossible to get everybody together at the same time.
特朗普政府的贸易保护主义政策导致美国与欧盟、加拿大、墨西哥以及中国陷入争端 。总统特朗普称，美国被其它的贸易伙伴利用 。
周三，美国商务部报告称，贸易逆差上升 。在该报告发布的前一天，一项关于价值2000亿美元的中国商品清单的公众意见征询期刚刚结束 。预计，美国政府将宣布对这些产品征收关税 。
三菱日联金融集团驻纽约首席经济学家克里斯·鲁普契（Chris Rupkey）表示：“美国在贸易方面仍未达成公平协议，这只能意味着一种结果 。”
美国商务部报告称，美国7月的贸易逆差增长了9.5%至501亿美元 。这是因为大豆和民用飞机出口量下降，同时进口量创下了历史新高 。在过去的两个月里，贸易逆差一直都在扩大 。
今年早些时候，美国政府宣布对钢铁、铝、洗衣机和太阳能电池板等商品征收进口关税 。美国政府表示，此举旨在保护美国工业免受特朗普所说的“不公平外国竞争的影响” 。
特朗普政府还希望重新制定北美自由贸易协定（NAFTA） 。美国和墨西哥于上周达成协议，但是与加拿大的谈判困难重重 。
美国政府表示，消除贸易逆差将使经济迈向更快增长的道路 。但是经济学家表示，政府的一些政策，例如年初减税1.5万亿美元将会恶化贸易逆差 。
7月份，美国商品和服务出口下降了1%至2111亿美元 。然而，商品和服务进口增长了0.9%，达到创纪录的2612亿美元，这些都得益于计算机和计算机零件的进口 。进口总额上升的部分原因是石油进口，由于油价上涨，石油进口量创下2014年12月以来新高 。