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U.S. Trade Deficit Expands to $50.1B in July

The Commerce Department reported that the U.S. trade deficit swelled to $50.1 billion in July, the highest level it has been since February. It was the second straight month the gap grew, and also represents an all-time record for imports.

In June, the deficit stood at $45.7 billion. The breakdown between exports and imports showed that exports ticked down 1% to $211.1 billion. Meanwhile, imports exhibited an increase of 0.9% to a record $261.2 billion, largely powered by purchases of trucks and computers.

Efforts to shrink the deficit by renegotiating trade agreements and imposing taxes on imports have not yet had an impact. The U.S.’s goods deficit with China rose 10% in July to a record $36.8 billion, while the spread with the European Union increased 50% to a record $17.6 billion, and the gap with Canada rose nearly 58% to $3.1 billion. Conversely, the deficit with Mexico plunged 25% to $5.5 billion in July.

The trade deficit has climbed 7% so far this year, compared to the January-July 2017 period.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.