The US trade deficit reached a record $140.5 billion (€123.6 billion) in March, driven by a surge in imports, particularly pharmaceuticals, as businesses stockpiled to offset potential tariff impacts.
According to data from the US Department of Commerce, exports of goods and services totaled $278.5 billion (€244.9 billion), while imports climbed to $419 billion (€368.5 billion). A significant portion of this increase was due to pharmaceutical imports, which rose by $20.9 billion (€18.4 billion), as companies moved to secure supplies ahead of anticipated trade measures.
Economists suggest the import surge is largely sector-specific, with pharmaceuticals accounting for most of the growth. Other sectors, such as retail, showed less activity, possibly due to existing tariffs or uncertainty about future trade policies. Meanwhile, imports of capital goods and automobiles rose, while industrial materials, including steel and crude oil, declined amid existing levies.
The spike in imports coincided with heightened trade tensions as new tariff measures were announced. While the White House argues these tariffs will reduce trade deficits and bolster domestic manufacturing, experts caution they may lead to higher costs for businesses and consumers.
The increased imports contributed to a decline in the US economy's growth rate, with the first quarter seeing a 0.3% contraction in GDP. Analysts expect the import surge to stabilize in the coming months, alleviating some pressure on economic growth.
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The Trump administration has granted Syria a temporary waiver from key U.S. sanctions and loosened business restrictions, marking the first formal step in a broader plan to dismantle decades-old penalties.
U.S. federal authorities have charged the alleged leader of an Eastern European neo-Nazi group with plotting acts of domestic terrorism, following an investigation that uncovered plans targeting Jewish and minority communities.
Iran and the United States ended their fifth round of nuclear talks in Rome with some progress but no resolution, according to the mediator from Oman.
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Boeing has struck a deal with the U.S. Justice Department to avoid criminal charges over the 737 Max tragedies, agreeing to pay over $1.1 billion in penalties, victim support, and safety reforms.
The Trump administration has granted Syria a temporary waiver from key U.S. sanctions and loosened business restrictions, marking the first formal step in a broader plan to dismantle decades-old penalties.
U.S. federal authorities have charged the alleged leader of an Eastern European neo-Nazi group with plotting acts of domestic terrorism, following an investigation that uncovered plans targeting Jewish and minority communities.
Iran and the United States ended their fifth round of nuclear talks in Rome with some progress but no resolution, according to the mediator from Oman.
Despite warnings from FEMA that offering aid to migrants might violate smuggling laws, shelters along the U.S.-Mexico border continue to receive individuals released by ICE, creating confusion and concern among nonprofits.
Russia is preparing to present Ukraine with a draft peace proposal once a recent prisoner swap concludes, Foreign Minister Sergei Lavrov announced Friday, signaling a potential step forward in peace efforts.
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