US Trade Deficit Rose 4.3 Percent in March to $60.3 Billion

The US trade deficit grew 4.3 percent in March to $60.3 billion, according to data released Tuesday by the Commerce Department’s Bureau of Economic Analysis. Imports rose 2.3 percent to $381.2 billion, outpacing the 2.0 percent increase in exports to $320.9 billion.

The goods deficit widened by $4.1 billion to $88.7 billion, while the services surplus expanded by $1.6 billion to $28.4 billion. It marks the second consecutive monthly increase to begin 2026.

Trade figures have shown volatility over the 16 months since Trump’s election. The deficit had ballooned in late 2024 and early 2025 as importers stockpiled goods ahead of anticipated tariffs.

One of the sectors that most contributed to March’s larger deficit was imports of automotive vehicles, parts, and engines, which increased by $3.6 billion. Imports of consumer goods rose by $2.4 billion. Capitol Economics described the latest modest widening of the trade deficit in March as less about insatiable AI-driven demand for computer hardware than in recent months, and more about a broader increase in imports.

The report included a country-by-country breakdown showing persistent multibillion-dollar deficits with several nations, including Mexico at $16.4 billion, Vietnam at $19.2 billion, and China at $14 billion. The deficit with China rose from February’s $13.1 billion gap.

Trump recently threatened to raise automotive tariffs on Europe from 15 percent to 25 percent, with negotiators meeting this week to seek a compromise.