- May was -$239 billion
- Last June was a surplus of $108 billion
- Year to date deficit of $1.367 trillion vs $1.337 trillion a year ago
- June customs duties of negative $25.6 billion due to refunds
The customs refunds made this number look worse that it was, but economists should have had that built into the consensus. In any case, it’s not a pretty picture and tariffs haven’t made it better.
This article was written by flc97fe4880a4b454993821fe0b770a597 at investinglive.com.