US Goods Trade Deficit Jumps Sharply on War-Fueled Surge in Imports

A wider trade gap could be a net drag on U.S. growth prospects in the second quarter.

Beachgoers enjoy the ocean in few of oil shipment and production vessels in Huntington Beach, Calif., on Sept. 12, 2024. John Fredricks/The Epoch Times

America’s goods trade deficit widened in May, driven by U.S. companies bringing forward imports to avoid anticipated war-related product shortages and rising costs.

The merchandise trade gap widened 27.4 percent to $105.8 billion, from $83 billion in April, according to data from the Commerce Department’s Census Bureau released on June 26.