[Alpha Biz= Kim Jisun] The United States recorded its largest-ever monthly trade deficit in March, driven by a surge in goods imports ahead of potential new tariffs under former President Donald Trump’s trade policy framework.

According to the Bureau of Economic Analysis (BEA) under the U.S. Department of Commerce, the trade deficit in goods and services rose by $17.3 billion (14%) from the previous month to $140.5 billion in March, far exceeding market expectations of $137 billion.

Reuters attributed the sharp increase to businesses accelerating imports before new tariffs took effect.

Exports in March increased slightly by $5 billion (0.2%) month-on-month to $278.5 billion, while imports jumped by $17.8 billion (4.4%) to $419.0 billion.

Compared to the same month last year, the trade deficit soared by $89.6 billion (92.6%). Year-on-year, exports grew by $41.1 billion (5.2%), whereas imports surged by $237.0 billion (23.3%).

 

 

Goods Exports Breakdown (March):

Total goods exports rose by $1.3 billion to $183.2 billion.

Industrial supplies and materials grew by $2.2 billion, led by an $800 million increase in natural gas and a $700 million rise in non-monetary gold exports.

Exports of automotive vehicles, parts, and engines increased by $1.2 billion, with passenger cars up by $900 million.

Capital goods exports fell by $1.5 billion, largely due to an $1.8 billion decline in civilian aircraft. However, computer accessories rose by $700 million.

Services exports fell by $900 million to $95.2 billion, with travel services down $1.3 billion, while transport and financial services increased by $300 million and $200 million, respectively.

 

 

Goods Imports Breakdown (March):

Total goods imports increased by $17.8 billion to $346.8 billion.

Consumer goods led the rise, increasing by $22.5 billion, with pharmaceutical imports up $20.9 billion.

Capital goods imports grew by $3.7 billion, driven by a $2.0 billion rise in computer accessories.

Imports of automotive vehicles, parts, and engines climbed by $2.6 billion, including a $2.1 billion rise in passenger car imports.

Industrial supplies and materials imports fell by $10.7 billion. Finished metal products declined by $10.3 billion, while non-monetary gold and crude oil imports decreased by $1.8 billion and $1.2 billion, respectively.

 

 

Services Imports:

Fell by $100 million to $72.2 billion.

Travel services declined by $400 million, and transport services fell by $200 million.

 

 

 

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