The United States experienced an expansion in its trade deficit during the first quarter, influenced by rising imports and ongoing tariff policies. According to data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, the goods and services deficit reached $140.5 billion in March, marking an 8% increase compared to the previous month. This year-to-date, the goods and services deficit has surged by $189.6 billion, representing a 92.6% rise from the same period in the prior year. Imports in March totaled $419.0 billion, up $17.8 billion from February, while exports slightly increased to $278.5 billion. The rise in imports may be attributed to businesses preparing for potential trade tensions, especially with China. Additionally, there was a noticeable increase in purchases of automotive vehicles, parts, and engines, as well as industrial supplies and consumer goods.
— new from The Hill
