U.S. goods and services trade deficit widened 42.2% in May to $77.6 billion, the
biggest since March 2025, as exports fell 3.2% and imports rose 3.3%. Exports
were weighed by a decline in nonmonetary gold; oil exports continued to
increase. Imports saw renewed gains in computer parts and semiconductors while
computer and telecom equipment imports eased; capital-goods imports tied to U.S.
data-center construction have remained elevated. Recent PMI surveys suggest
imports may also have been boosted by firms front-loading inventories to avoid
supply disruptions and price pressure related to the Iran conflict. May trade
data will help economists refine Q2 GDP estimates.
