U.S. — The U.S. trade deficit expanded to $77.6 billion in May 2026, marking the widest monthly gap since March 2025. This increase represented a 42.2 percent rise from the April 2026 deficit.

Total U.S. imports for May 2026 reached $395.3 billion, a 3.3 percent increase from the previous month. Concurrently, U.S. exports decreased by 3.2 percent, totaling $317.7 billion.

Specific import categories showed increases during May 2026. Semiconductor imports rose by $1.2 billion, while crude oil imports increased by $1.5 billion. Imports of automotive parts and engines saw a rise of $2.2 billion, and passenger car imports increased by $1 billion.

The headline Consumer Price Index was recorded at 333.979 in May 2026, indicating a 0.5 percent increase for the month. The University of Michigan consumer sentiment index was 44.8 in May 2026.

Analysis of trade balances with specific countries and regions showed varying results. The U.S. trade deficit with Vietnam was $20.6 billion, and with Mexico, it was $20.1 billion. The deficit with Taiwan stood at $19.4 billion, and with China, it was $14.5 billion. The trade deficit with the European Union was $9.3 billion.

Conversely, the U.S. recorded trade surpluses with several entities. The surplus with the Netherlands reached $9.1 billion, and with Hong Kong, it was $5.6 billion. A trade surplus of $4.8 billion was observed with South and Central America. The U.S. also had a trade surplus of $1.9 billion with Australia and $1.4 billion with the United Kingdom.

During the month, WTI crude oil prices reached $112.25 on May 18, 2026. Retail gasoline prices peaked at $4.50 on May 11, 2026.

Why It Matters

The widening U.S. trade deficit reflects an increase in imports concurrent with a decrease in exports, resulting in the largest monthly trade gap in over a year. The increase in imports across several sectors, including semiconductors, crude oil, and automotive components, occurred alongside movements in consumer price indicators and sentiment.