The US trade deficit soared to a record $140.5 billion (€123.6bn) in March as consumers and businesses alike tried to get ahead of President Donald Trump's latest and most sweeping tariffs — with federal data showing an enormous stockpiling of pharmaceutical products.
The deficit — which measures the gap between the value of goods and services the US sells abroad against what it buys — has roughly doubled over the last year. In March 2024, that gap was just under $68.6bn (€60.3bn), according to the US Department of Commerce.
