U.S. Trade Deficit Widens in May on Record Goods Imports

Source: The New York Times

The United States trade deficit in goods and services widened to $77.6 billion in May as America imported more goods than it sold abroad.

Imports rose, climbing 3.3 percent from the previous month, to hit $395.3 billion, as the United States imported more foreign pharmaceuticals, cellphones, cars and equipment to fill out new data centers.

U.S. exports of goods and services fell 3.2 percent in the month, to $317.7 billion, according to data the Commerce Department released on Tuesday. That included exports of gold, natural gas, computers and pharmaceuticals, which all fell from the previous month. The drop in goods exports was offset somewhat by an increase in service exports, including more revenue earned from foreigners traveling to the United States.

Exports and imports of services both hit a record in May, as did U.S. petroleum exports. Goods imports also hit a record high in the month.

Read more: https://www.nytimes.com/2026/07/07/business/economy/us-trade-deficit-may.html