USA: Imports Hit 11-Month High in February.

US imports surged 4.3%, or $15.2 billion, to $372.1 billion in February 2026, the highest level since the peak recorded in March 2025, even as Trump’s tariff policy faced legal chaos. After the Supreme Court struck down his IEEPA-based duties on Feb. 20, the administration rushed to impose new tariffs under a temporary statute, one expiring in July. Goods imports increased by $14.0 billion, with notable gains in capital goods (+$7.8 billion), driven by computers, accessories, and semiconductors; industrial supplies (+$3.1 billion), led by crude oil; consumer goods (+$2.2 billion), primarily pharmaceuticals; and automotive vehicles and parts (+$1.6 billion), boosted by trucks, buses, and special-purpose vehicles. Services imports also edged up $1.3 billion, mainly due to higher charges for the use of intellectual property, likely a temporary surge tied to broadcast rights for the Winter Olympics.