By Matt Grossman
U.S. imports rose faster than exports in March, pushing up the U.S. trade deficit, according to data published by the Commerce Department Tuesday.
U.S. imports totaled $381.2 billion in March, up 2.3% from February, while exports were $320.9 billion, 2% greater than in February.
That yielded a trade deficit of $60.3 billion, versus $57.8 billion in February. Analysts polled by The Wall Street Journal were expecting a $60.9 billion monthly deficit.
Amid the war in Iran, the U.S. shipped more oil overseas. Exports of crude oil grew by $2.8 billion, and exports of other petroleum products rose by $1.7 billion. Exports of U.S. food and agricultural feeds also grew by just over $1 billion.
But U.S. imports expanded by even more. Imports of cars and car parts rose by $3.6 billion. The U.S. also imported more consumer goods and capital goods than in February.
The figures measure the limited progress made against the Trump administration's goal of reducing the deficit in the 12 months after President Trump rolled out steep global tariffs in April 2025. Before and after that announcement, trade patterns swung wildly as companies adjusted to the new duties. But in recent months, the trade balance has stabilized around levels only a bit smaller than deficits seen during much of the Biden administration.
In February, the Supreme Court threw out Trump's worldwide tariffs, leaving more product-specific tariffs in place. Trump has pledged to replace those duties with other anti-trade measures, for now relying on a statute that allows only for temporary tariffs.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
05-05-26 0905ET
