The Commerce Department released a report on Wednesday showing the U.S. trade deficit widened in the month of July.
The report said the trade deficit increased to $65.0 billion in July from a revised $63.7 billion in June. Economists had expected the trade deficit to rise to $65.8 billion from the $65.5 billion originally reported for the previous month.
The wider trade deficit came as the value of imports increased by slightly more than the value of exports.
The value of imports climbed by 1.7 percent to $316.7 billion, while the value of exports rose by 1.6 percent to $251.7 billion.
