US goods trade deficit widened to $134.9B in September, driven by record imports of semiconductors and capital goods for AI infrastructure.
Macro & Markets ·
The US goods trade deficit reached $134.9 billion in September, its widest since March 2025, after expanding by $2.8 billion from the prior month. Import growth of 2.4% to $344.2 billion was concentrated in capital goods, which climbed 7.5% and encompassed computers, semiconductors, and telecommunications gear tied to AI infrastructure deployment. The capital goods deficit alone widened by $54.3 billion compared to a year earlier, eclipsing the total growth in the overall trade shortfall. Exports rose 2.6% to $209.2 billion, with food shipments increasing 12.8%.