U.S. goods trade deficit surges to $118.8 billion in July, Peter Schiff notes

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27.08.2026

U.S. goods trade deficit surges to $118.8 billion in July, Peter Schiff notes — U.S. trade deficit jumps to $118.8 billion

Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, reports that the U.S. goods trade deficit widened by 18% in July to $118.8 billion, marking the largest deficit since tariff front-running in March 2025.

According to Schiff, the increase was driven by a 3.7% increase in imports and a 2.9% fall in exports. Excluding months affected by tariff distortions, it is the biggest deficit since COVID reopening demand boosted imports in March 2022.

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Schiff previously highlighted a surge in the 30-year Treasury yield above 5.3 percent alongside U.S. national debt rising past $39.9 trillion in October 2024. He also reported that NEM reached a record high as investors anticipated higher gold prices, even as gold itself remained below its peak in April 2024. These earlier comments come as Schiff tracks continued imbalances in trade and debt.

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