The US goods trade deficit widened sharply in July as exports of agricultural products tumbled, suggesting trade will likely be a drag on economic growth in the third quarter.
The Commerce Department said on Tuesday the goods trade gap surged 6.3% to $72.2 billion (€61.7 billion) last month.
Exports of goods dropped 1.7% to $140.0 billion (€119.5 billion), weighed down by a 6.7% plunge in shipments of food, feeds and beverages.
