Trade deficit hits new record in June

Just picked up this Reuters story on MSNBC
U.S. trade deficit widens, hitting a record
Biggest exports drop in three years, record imports reported

The U.S. trade deficit widened much more than expected in June, hitting a record $55.8 billion as the biggest drop in exports in nearly three years combined with record imports, the government said on Friday.

Wall Street economists had expected the deficit to widen, but looked for a gap of just $47 billion. In its report, the Commerce Department also revised May's trade shortfall to $46.9 billion from the previously reported $46.0 billion.

I'm one of those liberals that agrees with free trade, but this shows that we are not managing our trade relations in a way that can handle free trade.   We need to be exporting more, not less products.  We need to be making more, not less products, but that's another story.