WASHINGTON, Nov 4 (Reuters) – The US trade deficit narrowed slightly in September even as robust domestic demand boosted imports to a record high.
The trade shortfall contracted 0.7% to $105.0 billion, the Commerce Department’s Bureau of Economic Analysis and Census Bureau said on Wednesday. Economists polled by Reuters had forecast the deficit at $108.0 billion.
The trade deficit has remained large despite President Donald Trump’s aggressive tariffs. The government’s estimated last week that imports subtracted 2.64 percentage points from gross domestic product growth in the third quarter, the most since the first quarter of 2025, when businesses were front-loading orders after Trump’s sweeping tariffs.
The economy grew at a 3.4% annualized rate in the July-September quarter, the government said in its advance estimate of GDP last week. Trade has not contributed to GDP growth for four straight quarters. Resilient consumer spending and an artificial intelligence investment frenzy account for the strength in domestic demand.
Imports increased 1.2% to $426.6 billion in September, a record high. Goods imports rose 1.3% to an all-time high of $346.9 billion. Exports advanced 1.9% to $321.5 billion. Goods exports increased 2.5% to $211.0 billion.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Andrea Ricci)
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