The data of the Commerce Department published on Thursday showed that Imports of goods and services increased a 5.9% monthlywhile exports barely increased 0.3% in July. In that way, The commercial balance reached a red U $ S78.3 billion.
This is the highest deficit since March, the month in which the record figure of US $ 138.3 billionin the prelude to “Liberation Day” April 2.
The highest deficits were with Mexico, with which he added US $ 16,600 million; followed by Vietnam, with US $ 16,100 million; and China, with US $ 14.7 billion. They completed the Taiwan podium, with US $ 13.5 billion, and the European Union, with US $ 8.6 billion.
The legal battle for tariffs
Simultaneously, the US Department of Justice appealed on Thursday the failure of the Chamber of Appeals that declared the president overreach in his powers. The Trump government asked the Supreme Court to expedite its review And decide if you will accept the case before September 10 so that the allegations can be made in November.
“In this context and uploading the pressure, Trump said that the US could be forced to ‘undo’ the trade agreements reached with the EU, Japan, South Korea And other countries if the Court confirms it, “said Outlier.
In a recent report to its clients, the Schawb business bank stated that the decision to consider illegal taxes “It generates greater uncertainty for companiesnow they will wait for the final decision of the Supreme Court. “
And they stated that “The president has other mechanisms to impose tariffsalthough with significantly greater limitations in terms of reach and deadlines. “
The impact of tariffs on the economy
In Schawbs they stressed that the PMI manufacturing report of August ISM that was known this Wednesday “He presented 14 mentions of tariffs in his comments sectiona sign that manufacturers feel the pressure. “On this point, in PPI They explained that ISM’s PMI was 48.7, below the expected 49, “And although it improved with respect to the previous 38, the sector contracts since February.”
Among the negative components, the employment subscript remained in a contraction zone by marking 43.8 compared to 45 projected, practically at the same level of July, which was 43.4. “The positive note came from the new orders, which passed to expansive field with 51.4, from 47.1 and above the 48 anticipated by the analysts,” they added from PPI.
Finally, From Schawbs they warned that “tariff -related inflation could be a wind against“. In this sense, on Wednesday, September 10, the prices index of the August producer will be known. The July data was a cimbronazo in the markets, since it rose 0.9% monthly, against an estimated 0.2% and a June without price variation.
Source: Ambito
