The U.S. trade deficit widened in July to $78.3 billion, a 32.5% increase, driven by record imports of capital goods and materials exceeding exports. Total imports rose 5.9% to $358.8 billion, with goods imports up 6.9% to $283.3 billion. Capital goods imports hit a record $96.2 billion, while industrial supplies imports surged $12.5 billion. Exports edged up 0.3% to $280.5 billion, with the goods trade deficit widening 21.2% to $103.9 billion. The U.S. deficit with China increased to $14.7 billion. Service exports hit a record $101.0 billion, while travel services exports fell amid immigration restrictions.

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