Unfortunately for the U.S., there has been "weak overseas demand and a strong U.S. dollar." For Europe especially, money isn't that great because of Greece's situation. Not only that, but seasons and weather has caused Germany, France, Japan, and Mexico to drop sales.
On top of this, oil prices also fell, which haven't been this low since 2002. However, on the bright side, consumer spending and "other economic data" has the probable future of "the Fed to raise rates later this year."
Although this deficit may seem like more of a negative than a positive, it might not be. In May, the U.S. "relied more on cosmetic drivers like construction and services" instead of manufacturing, which is export dependent.
So, although this id considered a deficit (and a big one) we still have highlights and it seems like other countries and continents are having, or will have, a much harder time because of this deficit. Thankfully we have shifted to a more domestic way of making things we need rather than export dependent ways. The Feds are trying to do everything they can, and fortunately in this case, we aren't doing too bad.
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