U.S. trade deficit widened in March as imports outpaced exports amid Iran war uncertainty
The U.S. monthly international trade deficit expanded in March 2026 as imports rose more than exports, reflecting economic disruption from the Iran conflict and ongoing supply chain challenges. The goods deficit increased significantly while services trade improved slightly.
Trade Deficit Expands
The U.S. monthly international trade deficit increased in March 2026 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $57.8 billion in February (revised) to $60.3 billion in March, as imports increased more than exports.
Goods Deficit Widens
The goods deficit increased $4.1 billion in March to $88.7 billion. The services surplus increased $1.6 billion in March to $28.4 billion.
Broader Economic Context
The trade deficit widening comes as oil prices have been highly influential in financial markets, up nearly 60% since the start of the Iran conflict, and nearly 80% since the start of 2026. This energy price shock is disrupting international trade flows and adding to economic uncertainty.