A rebound in imports fueled a spike in America’s trade deficit in May, new government data released on July 7 show.
The U.S. international trade deficit in goods and services surged more than 42 percent from the previous month to $77.6 billion, according to the Bureau of Economic Analysis.
May’s trade gap was the largest since March 2025 and came in slightly below the consensus forecast of $78.5 billion. Still, compared to the same time a year ago, the three-month average goods and services shortfall is down about $24 billion.
Imports climbed more than 3 percent, or $12.5 billion, to $395.3 billion.
U.S. firms purchased more consumer goods, industrial supplies, and automotive vehicles from foreign markets in May….