00:00It's Benzinga, bringing Wall Street to Main Street
00:02The U.S. trade deficit widened sharply in May, as imports rose to a 14-month high and exports fell,
00:09according to Commerce Department data cited by Reuters. Businesses' efforts to avoid shortages
00:14and higher prices tied to the Middle East conflict and potential new tariffs helped
00:18widen the shortfall, while the U.S.-Israeli war with Iran boosted petroleum exports to a record
00:23high. The trade gap jumped 42.2% to $77.6 billion, the highest level since March 2025 and slightly
00:32below economists' forecast of $78.5 billion. Imports increased 3.3% to $395.3 billion,
00:41led by a record $128 billion in capital goods imports as businesses spent on AI-related equipment,
00:47semiconductors, and computer accessories. Exports dropped 3.2% to $317.7 billion as a strong
00:56dollar weighed on U.S.-made goods. For all things money, visit Benzinga.com.
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