Due to a dramatic increase in goods imports as businesses scrambled to import goods before President Donald Trump imposed steep tariffs, the U.S. trade deficit reached an all-time high

The U.S. trade deficit grew to the highest level in March amid a record-setting surge of imports as businesses looked to stockpile inventories before tariffs took effect.

The U.S. trade deficit widened to a record high in March as businesses boosted imports of goods ahead of President Donald Trump's sweeping tariffs, which dragged gross domestic product into negative territory in the first quarter for the first time in three years.