U.S. trade deficit dropped sharply in August

The U.S. trade deficit dropped from $78.2 billion in July to $59.6 billion in August, with imports dipping amid a spate of higher tariffs, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis said in their latest monthly report. August imports totaled $340.4 billion, $18.4 billion less than in July, the report shows. “The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $18.1 billion to $85.6 billion and an increase...