The usual suspects. With unemployment at crisis levels ongoing in the jobless recovery, the Obama Administration wants to another job-destroying trade agreement in Asia?
The United States’ international trade deficit in goods and services increased to $39.1 billion in July from $34.5 billion in June as exports decreased and imports increased. Imports increased to $228.6 billion in July from $225.1 billion in June. Goods were $191.3 billion in July, up from $187.9 billion in June. Services were $37.3 billion in July, up from $37.2 billion in June.
The June to July increase in imports of goods came from increases in industrial supplies and materials ($2.0 billion); automotive vehicles, parts, and engines ($0.8 billion); consumer goods ($0.7 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in capital goods ($0.3 billion).
Decreases in capital goods ($1.6 billion); consumer goods ($1.4 billion); other goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.2 billion). Increases occurred in industrial supplies and materials ($1.7 billion) and foods, feeds, and beverages ($0.4 billion).
The goods deficit with China increased from $26.6 billion in June to $30.1 billion in July. Exports decreased $0.4 billion – primarily passenger cars – to $8.7 billion, while imports increased $3.0 billion (apparel and toys, games, and sporting goods) to $38.8 billion.
The goods deficit with Canada increased from $1.8 billion in June to $2.8 billion in July – primarily automobiles and automotive parts and accessories – to $23.6 billion, while imports decreased $0.8 billion – primarily passenger cars – to $26.4 billion.
The goods deficit with the European Union increased from $7.1 billion in June to $13.9 billion in July. Exports decreased $1.7 billion (primarily pharmaceutical preparations) to $21.1 billion, while imports increased $5.1 billion (primarily pharmaceutical preparations) to $35.1 billion.
