Our trade deficit increased to $62.2 billion in July, the largest since March 2007.
High oil prices was the primary culprit for the increase but the $24.9 billion of that deficit was to China.
Somebody needs to tell China that it is still doing huge export business with the U.S. because the Wall Street crowd keeps saying it isn’t.
Related Posts
- U.S. trade deficit continues to grow (12/11/08)
- Japan posts a rare trade deficit (09/24/08)
- China-Taiwan trade jumps too! (05/02/08)
- China trade surplus continues to balloon (10/13/08)
- Chinese Trade Surplus Soars (04/10/08)
