The US trade deficit hit a two-year high of $78.8 billion in July on a rise in imports, the Commerce Department reported yesterday.
The deficit was up by $5.8 billion, or 7.9 percent, from the $73 billion recorded in June.
July exports were $266.6 billion, $1.3 billion more than June exports. But exports were far outpaced by July imports of $345.4 billion – a $7.1 billion increase over the previous month.
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