US TRADE DEFICIT TOUCHES $50.1 BN

The US trade deficit widened in July, prompting fears that trade could be a drag on the economy. The gap increased 9.5 per cent to $50.1 billion, a five-month high, as exports fell by

1 per cent. The goods-trade gap with China soared to a record $36.8 billion on an unadjusted basis, up from $33.5 billion in the previous month, while the deficit with the EU jumped to a record

$17.6 billion from $11.7 billion.