The US advanced goods trade balance for May
The goods trade balance moved more negative to -$74.5B. With the threat of trade tariffs, the rise in the deficit could be as importers boost inventories.
- Exports YoY are down -2.5%
- Imports YoY are up 2.6%
- Exports MoM 3.0%
- Imports +3.7%
- Food and Beverage exports rose 6.1%. Consumer goods exports rose 5.4%
- Exports of autos surgee 7.5% and Industrial supplies rose 3.9%
The goal of reducing the trade balance from the Trump administration is not going in the right direction. However, as importers and exporters swerve to avoid future tariffs, the flow could be distorted.