Tariffs are leaving their mark on the U.S. economy beyond trade, as a measure of activity in the vast services sector hit stall-speed in July, with businesses saying the swarm of new import taxes is driving up costs and making business planning more difficult.

The trade gap with China shrank to its lowest in more than 21 years. Read more at straitstimes.com. Read more at straitstimes.com.

The US trade gap narrowed in June, government data showed Tuesday, as imports pulled back more than exports while businesses grappled with President Donald Trump's tariffs on allies and competitors

High tariffs on China-made products drove U.S. imports from the world’s second-largest economy to a 16-year low in June — yet the dramatic shift hasn’t put a big dent in America’s overall trade deficit.

China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods ahead of a looming deadline later this month.