Despite tariffs, US goods trade deficit widened by -$22.8 billion, or -27%, in May, to -$105.8 billion, the largest since March 2025.

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The US goods trade deficit widened by -$22.8 billion, or -27%, in May, to -$105.8 billion, the largest since March 2025.

This marks the largest monthly increase since November 2025.

US goods exports fell -$11.8 billion, or -5%, to $207.7 billion, the lowest since February, driven by a sharp decline in industrial supplies, particularly energy shipments.

Meanwhile, imports rose +$10.9 billion, or +4%, to $313.4 billion, the highest since March 2025.

The trade deficit is widening again.