Trade Deficit Still Historically High Despite Fall Since March

The July Trade Deficit fell for a fourth straight month to -$70.7B. While the Deficit continues to drop from all-time highs, it is very large relative to Deficits prior to 2022. Despite the large 33% fall from the -$107B in March, the current Deficit would have been an all-time record as recently as last June. […]

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