US trade deficit widens in July

The U.S. trade deficit widened sharply in July, driven by declining exports and rising imports, according to data released by the U.S. Department of Commerce on Thursday.

The deficit increased 24.4 percent to 88.6 billion U.S. dollars, marking the highest level in more than a year.

Data shows that U.S. goods and services exports in July amounted to 310.7 billion U.S. dollars, a decrease of 2.1 percent from June, while the imports rose to 399.3 billion U.S. dollars, up 2.8 percent month on month.

The industrial raw material exports decreased by 8.7 billion U.S. dollars in July, affected by the decline in crude oil and non-monetary gold exports. Meanwhile, the imports of computers and related accessories saw a significant increase, with capital goods imports rising by 14.4 billion U.S. dollars during the same period.

Russian President Vladimir Putin said on Thursday that a settlement to the Russia-Ukraine conflict still remains possible, stressing that progress depends on whether the two sides can reach a shared understanding.

Speaking at the plenary session of the four-day 11th Eastern Economic Forum, which opened on Tuesday in Vladivostok, Putin said the key to resolving the conflict lies in Russia and Ukraine finding common ground.

He also condemned attacks and hijackings involving civilian vessels and threats against civilian aircraft, describing such actions as "state terrorism". Putin claimed Ukraine's Western partners have remained silent on these incidents, adding that this is not conducive to advancing peace negotiation talks.

Addressing Russia-U.S. relations, Putin said relevant departments in both countries, including intelligence services, have maintained contacts, which he hopes could yield positive results.

Also on Thursday, Ukrainian President Volodymyr Zelensky said in a video address that the United States has confirmed it will hold meetings in both Kiev and Moscow to move the negotiation process forward.

Zelensky said that Ukraine expects talks in Kiev to take place in the coming days and that the Ukrainian negotiation team is fully engaged in preparations, with an initial schedule already outlined.