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Companies are racing to get the shipping of imported goods before customs duties become valid, causing a commercial deficit to rise.
The trade deficit rose to a record of $ 140.5 billion in March, as companies tried to store import shipments before President Donald Trump’s tariffWhich is expected to stimulate higher prices for a wide range of consumer products.
The gap between imported and exported goods increased by $ 17.3 billion from $ 123.2 billion in February, according to US Economic Analysis Office the monthly reportIssued May 6.
With Trump stopped on the mutual tariff that ended in July, companies were scrambling to ensure that they got enough products in the stock before the tariff full of dual numbers became. After running out of these shares, companies will need to pay more for products that were made outside the United States, and these costs will be transferred to consumers. The customs tariffs on the goods are already defined – the total tariff rate in China is 145 % – and the prices of some products have already increased Up to 377 %.