The U.S. trade deficit has not been this wide since 2015. In July, the trade gap increased more than nine percent to $50 billion. Exports suffered with a $682 million decline in U.S. soybean trade. Year-to-date, U.S. soybean shipments are up 43 percent from last year, but dropped 16 percent in July. That’s when the trade war between the U.S. and China began. President Donald Trump told reporters Wednesday that trade negotiations with China will continue, but a deal is not imminent.
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