The US trade deficit narrowed less than expected in July as the trade war between Washington and Beijing escalated, once again raising fears about domestic and global growth.
The Department of Commerce said on Wednesday that the gap between US imports and exports shrank by 2.7 per cent to $54bn in July to its narrowest level in three months. It stood at $55.5bn the previous month.
However, the July gap was still wider than the $53.5bn deficit that economists surveyed by Reuters had forecast.
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