The US goods-trade deficit unexpectedly reached a record $162 billion in March 2025, widening by 9.6% from February.
This surge was driven by companies rushing to import goods before President Trump’s new tariffs took effect. Imports rose 5% to $342.7 billion, with consumer goods reaching record levels.
The widening deficit is expected to negatively impact first-quarter GDP, with some economists now forecasting a contraction instead of growth.