By: Economic & Finance Report
US trade deficit widened as imported products from China helped to increase the deficit further along. The deficit widened about $ 4 billion dollars (US) from the previous months of May and June 2016. In May 2016 the deficit rose to over $41 billion dollars compared to $37.5 billion in April 2016.
Insiders are calling it one of the biggest, if not the biggest trade imbalances since the beginning of 2016. Computers and cellphones imported from China were the main products that added an increase to the trade deficit.
2016 exports have not faring well because of the strength of the dollar against other currencies. The dollar has become more intuitive as of late and the steam does not seem to be slowing down, analyst predict the dollar to remain strong for the remainder of the year. –SB