Korean Media: U.S. Trade Deficit Reaches Highest Level in Over One Year and Two Months in May!
On August 5, South Korean media outlet NEWSIS published an article stating that the U.S. trade deficit in May reached its highest level in over one year and two months.
According to reports from The New York Times and other outlets, the U.S. goods and services trade deficit in May amounted to $77.6 billion, a rise of approximately 42% compared to April.
This figure is slightly below market expectations ($78.6 billion) and marks the largest monthly deficit since March 2025, when import surges occurred amid expectations of tariff increases.
Total goods and services imports reached $395.3 billion, up 3.3% from April, with both goods and services imports hitting record highs.
The New York Times attributes this surge to significant increases in imports of foreign pharmaceuticals, smartphones, automobiles, and data center equipment.
In contrast, goods and services exports totaled $317.7 billion, a decline of 3.2% from April. Exports of gold, natural gas, computers, and pharmaceuticals all decreased compared to April.
By country/region, the goods trade deficit with China expanded from $12 billion in April to $14.5 billion in May.
The trade deficit with the European Union also increased from $7.2 billion to $9.3 billion, while the deficit with Japan narrowed slightly from $2.8 billion to $2.0 billion.
Original source: toutiao.com/article/1872647029312521/
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