Prior month -76.3B
The US advanced goods trade balance moved to a higher deficit at -77.25B vs -77.0B estimate. This is certainly not going to appease the President who is fighting to cut the trade deficit. This is also not great for GDP as well. PS. it is a record.
The increasing deficit could also be in reaction to tariffs (or tariffs to come). If there will be an increase in all China tariffs on goods coming into the US, keep the goods "a coming" ahead of those tariffs. That could lower demand later.
What is worrisome is that the exports fell by a greater number. So foreign demand is less for US goods abroad.
- imports rose 0.1% to $217.76B from $217.55B
- exports fell -0.6% in October to $140.517B from 141.303B
