WASHINGTON: The US trade deficit expanded slightly less than analysts expected in March, government data showed Tuesday, as imports rose more than exports.
The trade gap in the world’s biggest economy widened 4.4 percent to $60.3 billion, said the Commerce Department.
The uptick came in the month after the US Supreme Court struck down a swath of President Donald Trump’s global tariffs, while businesses pushed to get refunds.
Trump moved quickly to impose a temporary 10-percent duty under separate authorities, and his administration has since taken steps towards more lasting levies.
READ MORE: US trade deficit widens less than expected in February
The overall trade deficit was slightly narrower than the $60.9 billion figure expected from economist surveys by Dow Jones Newswires and The Wall Street Journal.
In March, US imports rose 2.3 percent to $381.2 billion, with increases seen in autos and parts, alongside consumer goods and industrial supplies.
Exports climbed by 2.0 percent to $320.9 billion with growth seen in crude oil and other petroleum products.
Exports of foods, feeds and beverages also climbed.
The shifts also came shortly after US-Israeli strikes targeting Iran from February 28, triggering Tehran’s retaliation in virtually blocking off the Strait of Hormuz.
The narrow waterway is a key route for energy shipments, causing oil prices to surge globally.
Comments
Comments are closed for this article.