The United States merchandise trade deficit in July reached a new high since March 2025

The United States merchandise trade deficit expanded to $118.8 billion in July, up from 17.2 per cent in March 2025. United States Department of Commerce data show that imports grew by 3.7 per cent in July, while merchandise exports declined by 2.9 per cent. In recent months, the United States trade deficit has continued to fluctuate, influenced by the increased global demand for United States petroleum products driven by the Iranian war, while businesses accumulate commodities and raw materials to reduce the risk of supply chain disruption. The import of artificial intelligence-related equipment remained strong。