U.S. rubber product trade deficit surges in July

WASHINGTON (Nov. 28)—The U.S. rubber product trade deficit rose to $358.9 million in July, a 22-percent increase from the $294.2 million posted in the like period in 1999, according to U.S. Commerce Department data. For the year-to-date, July heralded a deficit of $1.91 billion, up 14.5 percent from the $1.67 billion imbalance through the first seven months of last year. The rubber product deficit, on the rise for the past three years, showed signs of slowing early in 2000, but the past three months have shown double-digit increases. Analysts have predicted that economic recovery in Asia will spur a more equitable trade balance, but it will take time, they say.