WASHINGTON: The US trade deficit widened more than expected in May, with both imports and exports declining as US President Donald Trump’s tariffs sent shock waves through the economy and snagged supply chains.
Trade data published Thursday showed the world’s biggest economy logged an overall trade gap of $71.5 billion, in the month after Trump imposed a 10 percent duty on most trading partners before pausing steeper rates for dozens of these economies.
This was an expansion from the $60.3 billion deficit in April, according to the Commerce Department.
The figures, however, came as both imports and exports shrank in May.
US imports were down 0.1 percent to $350.5 billion, as incoming shipments of goods ticked down.
Imports of consumer goods dropped by $4.0 billion, with those of certain apparel and toys both sliding, although imports of autos and parts climbed.
US exports, meanwhile, dropped by 4.0 percent to $279.0 billion, with declines largely seen in industrial supplies and materials, the report showed.
