Mexican Media Brands
U.S. Trade Deficit Dips to 4-Month Low
America's trade deficit with the rest of the world shrank 7% from June to July to $41.9 billion, its lowest total since February, according to the U.S.
#economics
Share
America's trade deficit with the rest of the world shrank 7% from June to July to $41.9 billion, its lowest total since February, according to the U.S. Dept. of Commerce's Bureau of Economic Analysis.
Exports of goods and services in July improved slightly to $188.5 billion, and imports fell 1% to $230.4 billion.
U.S. deficits for July were led by China ($28.8 billion), the European Union ($12.4 billion) and Japan ($5.4 billion). The country's deficit with Mexico shrank by $1.6 billion to $3.8 billion).
BEA says America posted trade surpluses for the month with Central and South America ($2.6 billion), the Organization of the Petroleum Exporting Countries ($700 million) and the U.K. ($300 billion).
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.