The U.S. trade deficit increased to a record high in March, as the looming threat of President Donald Trump's imminent tariffs fueled stockpiling by importers, who sought to build their inventories before their costs spiked or items became unavailable.

The U.S. trade deficit in goods and services soared to a record $140.5 billion in March. Year-to-date, the deficit has increased 92.6%, as companies and consumers rush to import goods before President Trump's sweeping global tariffs increase on July 6.

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-- NBC News (@nbcnews.com) May 6, 2025 at 10:15 AM