America's trade deficit widened in July, ballooning to more than $78 billion and up 32.5% from the month before, according to new federal data out Thursday.

America's imports and exports imbalance comes as President Donald Trump's tariffs continue to ripple through the global economy, despite the president imposing the tariffs in part to bring down the trade deficit.

The latest figures show U.S. imports were up nearly 6% in July, as American consumers and businesses rushed to stock up on goods ahead of the new set of August tariffs.

"I think people just want prices to not be high. And I'm trying to do that as best as I can, but I've been forced to raise my prices about 20% because of these tariffs," said small business owner David Levi.

For owners like Levi, the tariffs have already im

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