The US trade deficit widened to $105.6 billion in August 2026 from a revised $92.8 billion in July, surpassing market expectations of $102.0 billion and reaching its largest level since March 2025. The deterioration in the trade balance was primarily driven by a $17.2 billion jump in imports, which climbed to a record $420.8 billion. Imports of industrial supplies and materials increased by $9.1 billion, led by higher purchases of crude oil and nonmonetary gold, while capital goods imports rose $6.2 billion on stronger demand for semiconductors and other industrial machinery. These gains more than offset a decline in imports of computer accessories.
On the export side, total shipments rose by $4.5 billion to $315.2 billion. The increase was fueled by a $6.3 billion rise in exports of industrial supplies and materials, mainly nonmonetary gold and crude oil, and a $1.3 billion gain in capital goods exports, including semiconductors and computers. These advances were partially offset by a $2.4 billion drop in pharmaceutical exports. Exports and imports of services were little changed.
