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.

President Donald Trump has said his tariffs were designed to close the gap between the amount of goods imported and exported. The U.S. trade deficit declined in June, but tariffs may have played an unexpected role.

US President Donald Trump's sweeping new tariffs on countries around the world have come into effect in an escalation of his trade war. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!

China is shipping more goods to Southeast Asia and other regions that often re-export them to the United States. China still sells three times as much to the United States as it buys.

China's exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump’ s trade war with Beijing.