The US trade deficit in goods widened to $96.6 billion in May 2025, up $9.6 billion, or 11.0%, from $87.0 billion in April, following a record $162.3 billion in March, according to an advance estimate. The slight contraction in imports was driven by a 0.0% drop, after a 19.8% decline the previous month, as the Trump administration’s tariffs continued. Import declines were broad-based, with the steepest drops seen in consumer goods (-6.2%), industrial supplies (-2.1%), and foods (-0.8%). At the same time, exports fell 5.2% in May after a 3.4% gain in April - consumer goods (+11.0%) and automotive vehicles (+3.5%) recorded gains, while industrial supplies (-13.6%) and foods (-2.2%) declined.