Supply Chain Research

The U.S. trade deficit reached a record high of $75.7 billion in June after imports climbed 35.3% higher year over year and by 8.6% compared to June 2019. Goods imports have led the way with shipments from the EU and Mexico/Canada having risen by 12.6% and 18.4% respectively in June 2021 versus June 2019 and despite imports from China increasing by just 2.8%. The latter has been suppressed in part by continued tariffs under the Section 301 program which were first applied three years ago. The future of the tariffs is under review by the U.S. Trade Representative with a decision potential...