America’s $118.8 Billion Goods Trade Deficit Just Sent a Tariff Warning

A basic promise underlying America’s aggressive policy of imposing tariffs is to reduce imports, increase domestic production, and thus start to narrow the huge trade imbalance which has characterized the U.S. economy over the decades.

Advance data released on Thursday, August 27, show that the U.S. goods trade deficit reached $118.8 billion in July, which is an increase from the revised figure of $101.4 billion recorded in June.