US Imports Rise to 1-Year High

Imports into the United States rose by 2.0% from the previous month to $383.0 billion in April of 2026, the highest in one year, and the fourth highest reading on record. Imports of foreign goods rose by 2.1% to $304.9 billion in the period amid higher purchases of computers, semiconductors, and telecommunications equipment, aligned with the surge in investments on AI infrastructure from the largest companies in the US, which take in a lot of their capital goods from Asia. In turn, foreign purchases of industrial supplies decreased. Imports of services rose by 1.6% to $78.0 billion.

US imports climbed by $8.7B to $381.2B in March 2026, the highest in one year, driven largely by a surge in goods. Goods imports rose $10.6B to $302.2B, with Census-based figures showing a $10.2B increase. Automotive vehicles, parts, and engines led gains (+$3.6B), including a $2.8B jump in passenger cars. Consumer goods (+$2.4B) and capital goods (+$2.1B) also contributed, with computer accessories up $2.0B and industrial supplies and materials rising $2.1B, despite a $2.3B drop in computers. Meanwhile, services imports fell $1.9B to $79.0B, reflecting declines in intellectual property charges (-$1.0B), transport (-$0.4B), and travel (-$0.4B).

US imports surged 4.3%, or $15.2 billion, to $372.1 billion in February 2026, the highest level since the peak recorded in March 2025, even as Trump’s tariff policy faced legal chaos. After the Supreme Court struck down his IEEPA-based duties on Feb. 20, the administration rushed to impose new tariffs under a temporary statute, one expiring in July. Goods imports increased by $14.0 billion, with notable gains in capital goods (+$7.8 billion), driven by computers, accessories, and semiconductors; industrial supplies (+$3.1 billion), led by crude oil; consumer goods (+$2.2 billion), primarily pharmaceuticals; and automotive vehicles and parts (+$1.6 billion), boosted by trucks, buses, and special-purpose vehicles. Services imports also edged up $1.3 billion, mainly due to higher charges for the use of intellectual property, likely a temporary surge tied to broadcast rights for the Winter Olympics.