The US trade deficit increased by 9.5 % to a five - month high of $ 50.1bn in July , the Commerce Department said . Exports of soyabeans and civilian aeroplanes increased while imports reached a record high . The government 's implementation of a $ 1.5tn tax cut earlier this year could increase the trade deficit further by boosting consumer and business spending , which in turn could increase imports , according to economists including John Ryding of RDQ Economics .
The US trade deficit increased by 9.5% to a five-month high of $50.1bn in July, the Commerce Department said. Exports of soyabeans and civilian aeroplanes fell while imports reached a record high. The government's implementation of a $1.5tn tax cut earlier this year could increase the trade deficit further by boosting consumer and business spending, which in turn will increase imports, according to economists including John Ryding of RDQ Economics.