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U.S. trade deficit up in August
The U.S. trade deficit continued to grow in August, even as the Obama administration negotiates a massive trade deal with the European Union that officials hope will add an estimated $130 billion to the economy.
The trade deficit increased 0.4 percent to $38.8 billion in August, the most recent month that data is available, the Commerce Department reported Thursday.
The trade gap in July was revised to $38.6 billion from $39.15 billion, which had previously been reported.
Exports fell slightly by $100 million, but imports remained stable, which accounted for the increase in the trade gap.
But the trade deficit appears to be headed downward in the big picture. The average trade gap in the three months leading to August fell to $37.3 billion from $39 billion in the three months before that.
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About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at firstname.lastname@example.org.
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