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4 September 2026 – The US trade deficit widened sharply in July to the largest since early 2025, reflecting a surge in imports of computers and other technology equipment.
The gap in goods and services trade grew 24.4% from the prior month to $88.6 billion, according to the Trump administration. The rapid rate of technology imports reflects the investment race in artificial intelligence, a key driver of current US economic growth.
While many of Donald Trump’s tariffs, levied as part of his ongoing trade war, were struck down as unconstitutional earlier this year, the president is using other authorities to impose duties (moves which also have triggered litigation). Most recently, the US levied 50% duties on billions of dollars of Canadian goods, and Canada retaliated after trade talks fell apart last month.
Meanwhile, the value of outbound US shipments of industrial supplies such as oil and petroleum products declined, according to the Commerce Department. Exports of non-monetary gold also fell. Trade in this category has been particularly volatile since early last year. Source: Bloomberg