US trade gap widens in March as AI spending boosts imports
The US trade deficit widened 4.4% to $60.3 billion in March, driven by increased imports linked to AI spending. US exports of crude oil and petroleum products jumped after the war in the Middle East began on February 28.
The US trade deficit grew to $60.3 billion in March, a 4.4% increase, as imports rose 2.3% to $381.2 billion. Spending linked to the artificial intelligence buildout boosted imports, particularly in capital goods such as computers and semiconductors. US exports climbed 2.0% to $320.9 billion, driven by growth in crude oil and other petroleum products. Exports of foods, feeds, and beverages also increased. The trade deficit was slightly narrower than the $60.9 billion expected by economists. Analysts noted that the rise in imports outpaced the increase in exports, partly due to a jump in vehicle imports.
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