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US Goods Trade Deficit Widens to Biggest in More Than a Year

The United States goods trade deficit widened sharply in May to $105.8 billion. This increase was driven by a surge in imports and is the largest gap in more than a year. The development has increased bets on rate cuts and is expected to drag on Q2 GDP.

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What changed

The goods trade deficit rose to a 14-month high in May after decreasing to $83.7 billion in April.

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  1. US Goods Trade Deficit Hits 14-Month High in May

    The United States goods trade deficit widened sharply in May to $105.8 billion. This increase was driven by a surge in imports and is the largest gap in more than a year. The development has increased bets on rate cuts and is expected to drag on Q2 GDP.

    What's confirmed:

    • The US goods trade deficit widened to $105.8 billion in May.
    • The May deficit is the largest in more than a year.
    • A surge in imports drove the trade gap to a 14-month high in May.
    • The US goods deficit was $83.7 billion in April.

    Still unconfirmed:

    • The widening deficit is increasing bets for rate cuts and will drag down Q2 GDP.
    • Nasdaq fell over 200 points following the trade gap news.
    • Tech stocks led a premarket slide as the deficit widened.
    • Earlier tariff front-running created trade distortions contributing to the May deficit.
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