September 2015 Trade Bulletin

Highlights of this month's edition:

• Bilateral trade: U.S. goods deficit in July hits $31.6 billion, the highest monthly deficit this year.

• Policy trends in China’s economy: China devalues the RMB, then intervenes to strengthen it again; persistent volatility in China’s stock market fuels investor uncertainty; commodity prices continue to fall as China’s economy slows.

• Sector spotlight – Steel: In response to declining domestic demand for steel, China’s mills export their surplus rather than limit production and lay off workers; U.S. and foreign competitors cite dumping.