The U.S. goods and services trade deficit widened to $60.3 billion in March, up $2.5 billion, or 4.4%, from a revised $57.8 billion in February, according to Commerce Department data released Tuesday.
The goods and services gap rose 4.4% to $60.3 billion, with capital goods imports hitting a record as AI buildout lifted demand for foreign computer equipment
Allen J. Schaben / Getty Images
The U.S. goods and services trade deficit widened to $60.3 billion in March, up $2.5 billion, or 4.4%, from a revised $57.8 billion in February, according to Commerce Department data released Tuesday.
Imports increased by 2.3% to $381.2 billion, and exports went up 2% to $320.9 billion. The goods deficit grew by $4.1 billion to $88.7 billion, but this was partly balanced by a $1.6 billion rise in the services surplus to $28.4 billion.
A surge in computer accessories, up $2.0 billion, pushed capital goods imports to an all-time high, reflecting the heavy spending on foreign-made equipment tied to the expansion of artificial intelligence infrastructure, according to Bloomberg. Imports of automotive vehicles, parts, and engines rose $3.6 billion, and consumer goods imports increased $2.4 billion.
On the export side, industrial supplies and materials rose $5.0 billion, led by crude oil, other petroleum products, and fuel oil. Food, feed, and beverage shipments abroad reached their highest level in roughly three years, according to Bloomberg. Consumer goods exports fell $1.7 billion.
After stripping out price changes, the merchandise trade deficit came in at $90.8 billion, 6.7% wider than the prior month. Petroleum trade swung to its biggest surplus ever in price-adjusted terms, according to Bloomberg.
On a bilateral basis, the largest merchandise trade deficits in March were with Taiwan at $20.6 billion, Vietnam at $19.2 billion, Mexico at $16.4 billion, China at $14.0 billion, and the European Union at $9.2 billion. The deficit with China widened for a third consecutive month.
The March figures close out a quarter in which the trade deficit has been a recurring pressure point for the U.S. economy. Throughout last year, successive rounds of tariff announcements from President Donald Trump sent monthly trade flows lurching sharply up and down as U.S. importers scrambled to adjust. Economists broadly agree that those tariffs increased the cost of consumer goods for American consumers.
On a year-to-date basis, the goods and services deficit for the first three months of 2026 was $211.2 billion lower than the same period in 2025, a 55% decrease, as exports rose 12% and imports fell 9.1%. The three-month moving average deficit for the period ending in March was $57.6 billion, down $70.4 billion from the three months ending in March 2025.
The next trade data release is scheduled for June 9, 2026.
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