The US trade deficit increased in August to $48.3 billion, a jump of $6.5 billion from July, the U.S. Department of Commerce reported today. Exports fell $3.7 billion to $185.1 billion during the month, and imports rose $2.8 billion to $233.4 billion.
US supply chain providers are preparing for an uptick in business thanks to the Trans-Pacific Partnership. A dozen countries, including the US, came to an agreement over the weekend regarding the TPP. The deal is being applauded by business involved in trade.
Volumes of crude oil being transported by rail has dropped 22% compared to this time last year, the American Association of Railroads reported. Oil companies and railroad shipping companies are also having a harder time than expected meeting federal safety standards for sending oil by rail.
China is investing $4.9 billion in two industrial parks in Bangladesh, making it possible for Bangladesh to produce more goods and meet growing demands for product from the country.