U.S. trade deficit remains on track for 10-year high after climbing 7% in June

The numbers: The trade deficit rose 7% in June to mark the first increase in four months, keeping the U.S. on track to post the largest annual gap in a decade even as the Trump White House escalates tariffs in an effort to bring it down. The deficit climbed to $46.3 billion from a revised $43.2 billion in May, the Commerce Department said Friday. Economists polled by MarketWatch had forecast a $46.6 billion gap. The U.S. trade deficit added up to $291 billion in the first six months of 2018, compared with $272 billion in the first half of 2017. Read more here.