US Goods Trade Deficit Hits $162 Billion in March

According to the latest report from the Census Bureau released on Tuesday, the United States witnessed its goods trade deficit climb to $162 billion in March, marking a significant increase from February's figures.

Exports and Imports See Notable Growth

Exports of goods saw a modest rise of $2.2 billion from the previous month, reaching $180.8 billion in March. Meanwhile, imports surged by $16.3 billion to $342.7 billion, contributing to the widened trade deficit.

Wholesale Inventories on the Rise

Additionally, the report highlighted a 0.5% increase in wholesale inventories for March compared to February, with a year-over-year growth of 2.3%, adjusted for seasonal variations and trading-day differences but not price changes.