US goods trade deficit widens to $162.0 bn

THE US TRADE deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of President Donald Trump's sweeping tariffs, suggesting trade was a large drag on economic growth in the first quarter.

- REUTERS

While some of the imported goods ended up in warehouses at wholesalers, economists said this would not blunt the anticipated hit on gross domestic product from the deterioration in the trade deficit.

The report from the Commerce Department on Tuesday showed wholesale inventories rising strongly last month.