The U.S. trade deficit returned to growth in July, rising 6% on a year earlier to reach $44 billion. While that was below economists’ expectations it follows a larger-than-anticipated goods-only deficit. That would suggest a marked shortfall in the services surplus. Exports of services grew 4%, the slowest rate since February and lagging imports for a 29th straight month. Intellectual property services exports fell by 5%, the ninth straight decline. Arguably that should be as much of a focus for trade policy as goods imports from China or NAFTA. The goods deficit increase was led by Chin...