Aug trade deficit widened to -$53.2b from a.>

US DATA: Aug trade deficit widened to -$53.2b from -$50.0b in July, a 

slightly narrower gap than -$53.4b exp. Imports surged to a record 

high in the month. The census goods gap was revised to -$75.5b from 

-$75.8b in the advance estimate and remains wider than -$72.0b in July. 

- The trade gaps with China and Mexico both widened to record levels and 

remain ammunition for those in favor of further tariffs. The gaps with 

Canada and the EU narrowed, but were both larger than a year ago.

- Exports fell in Aug on declines in industrial supplies and materials 

(-$2.4b, crude oil -$0.9b), food (-$1.2b), and autos (-$0.3b), offset by 

gains in consumer goods (+$1.6B) and capital goods (+$0.1b).

- Imports rose in Aug on gains in autos (+$1.0b), consumer goods 

(+$0.9b), and industrial supplies and materials (+$0.4b, petro +$0.4b), 

offset by declines in food (-$0.1B) and capital goods (-$0.5B).