US Imports Hit Fresh Record High

US imports surged $17.2 billion to an all-time high of $420.8 billion in August 2026, contributing to a widening in the trade deficit to $105.6 billion from a revised $92.8 billion in July. The increase was led by a $9.1 billion rise in industrial supplies and materials, mainly crude oil and nonmonetary gold, while capital goods imports rose $6.2 billion on stronger purchases of semiconductors and other industrial machinery. These gains more than offset a decline in computer accessories. Services imports were broadly unchanged, as higher transport imports offset declines in charges for the use of intellectual property and travel.

Imports to the United States rose 2.8% month-over-month to $399.3 billion in July 2026, the largest since a record of $416.35 billion in March 2025. Purchases rose for computers ($6.9 billion), computer accessories ($6.6 billion) and semiconductors ($1.2 billion) while a fall was seen for crude oil ($-1.8 billion) and charges for the use of intellectual property ($-0.5 billion). Imports came mostly from Mexico ($60 billion), the European Union ($45.4 billion), Canada ($25.6 billion) and China ($25.6 billion).

US imports fell by $7.3 billion, or 1.8%, from the prior month to $388 billion in June 2026, marking the first drop since January. Imports of goods decreased $7.9 billion to $309.0 billion in June, with Census-basis imports falling by $7.7 billion. The drop mainly reflected lower purchases of capital goods (-$2.1 billion), particularly computers (-$3.0 billion), and consumer goods (-$2.1 billion), mainly pharmaceutical preparations (-$1.9 billion). These declines were partly offset by a $1.1 billion increase in telecommunications equipment imports. Meanwhile, services imports rose by $0.6 billion to $79.0 billion, led by higher charges for the use of intellectual property (+$0.7 billion), transport (+$0.2 billion), and insurance services (+$0.1 billion), partly offset by a decline in travel (-$0.4 billion).