U.S. exports and imports of goods and services reached 320.9 billion U.S. dollars and 381.2 billion U.S. dollars in March, respectively, resulting in a trade deficit of 60.3 billion U.S. dollars, according to data released by the Department of Commerce on Tuesday,
The deficit increased by 2.5 billion U.S. dollars, or about 4.4 percent, from the previous month. This marked the second consecutive monthly rise in the U.S. trade deficit, primarily driven by a surge in goods imports.
In March, U.S. goods imports rose by 10.6 billion U.S. dollars to 302.2 billion U.S. dollars, with increases noted in imports of motor vehicles and parts, consumer goods, capital goods, and industrial raw materials.
U.S. trade deficit grows in March
