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US trade gap hits six-month high as soybean exports plunge 28%- Andrew Mayeda

“The U.S. trade deficit widened in August to the biggest in six months as soybean exports plunged and a measure of the gap with China hit a record, showing how the Trump administration’s trade war is dragging on economic growth.

The gap in goods and services trade increased 6.4 percent to $53.2 billion, from a revised $50 billion in the prior month, Commerce Department data showed Friday. Imports rose 0.6 percent and exports fell 0.8 percent. Soybean exports dropped $1 billion, or 28 percent, to $2.58 billion, reversing a run-up earlier this year ahead of retaliatory levies from China.”

Read more details: US trade gap hits six-month high as soybean exports plunge 28%- Andrew Mayeda, American Journal of Transportation