The report, which was initially scheduled for release on October 7, was delayed because of the recently ended 43-day shutdown of the government
The trade gap ballooned 32.5per cent to $78.3 billion, the Commerce Department's Bureau of Economic Analysis said on Thursday
The Atlanta Federal Reserve is currently estimating GDP will increase at a 2.2 per cent rate in the third quarter
Net exports of goods and services contributed 4.99 percentage points to GDP growth in the second quarter of 2025, the highest in the US since at least 1947
The initial imposition of a higher 25 per cent tariff last week was also devoid of economic logic
Imports of consumer goods fell to the lowest level since September 2020, and industrial supplies and motor vehicles were also down. Meantime, inbound shipments of capital equipment rose
Imports of goods decreased $11.5 billion, or 4.2 per cent, to $264.2 billion, the lowest level since March 2024. The decline was led by a 12.4 per cent plunge in consumer goods imports
The US trade deficit soared to a record $140.5 billion in March, up from $123.2 billion in February as firms rush to stockpile imports before new tariff hikes take effect
Economists polled by Reuters had forecast the trade deficit rising to $137.0 billion from the previously reported $122.7 billion in February
Goods imports soared $16.3 billion to $342.7 billion, likely as businesses rushed to bring in goods to avoid President Donald Trump's sweeping tariffs
However, US Trade Representative Jamieson Greer claimed that there is a 'serious lack of reciprocity' in trade ties with India
India's exports to the US grew by 11.6 per cent in 2024-25, rising to $86.51 billion, compared to $77.52 billion in 2023-24
Trump economic advisor Stephen Miran called on nations to take greater responsibility in providing global stability
Imports of services increased $0.5 billion to a record high $72.2 billion. There were increases in travel services and charges for the use of intellectual property
Musk said that US President Donald Trump inherited a $2 trillion trade deficit, warning that "America will go bankrupt" if it fails to bring the deficit under control
The trade gap increased 24.7 per cent to $98.4 billion, the highest since March 2022, from a revised $78.9 billion in November, the Commerce Department's Bureau of Economic Analysis said
Imports rose 3.4 per cent to $351.6 billion. Goods imports surged 4.3 per cent to $280.9 billion. They were driven by a $3.7 billion increase in industrial supplies and materials
The goods trade gap increased to a seasonally adjusted $102.9 billion last month from $98.3 billion in October, the Commerce Department's Census Bureau said on Friday
The trade gap contracted 10.8 per cent to $70.4 billion from a revised $78.9 billion in July, the Commerce Department's Bureau of Economic Analysis said
Economists expected trade, which added to gross domestic product growth last year, to remain supportive to the economy in 2024, though Red Sea shipping disruptions posed risk