Oil imports, Chinese textiles push up U.S. trade deficit

The United States imported a record amount of foreign oil in June and shipments of Chinese clothing and textiles soared, too, pushing the nation’s monthly trade deficit to the third-highest level in history.

Analysts said the new report highlighted two of the biggest threats to the economy — soaring energy prices and the dangers that the widening trade gap with China could spawn a protectionist backlash in the United States.