The overall trade gap of the world's largest economy jumped 14.0 percent to $140.5 billion for the month, the Commerce Department said in a statement.
“Businesses pulled forward needed industrial supplies and retailers stocked their shelves with consumer goods in March ahead of tariffs,“ economists at Wells Fargo wrote in a note to clients.
The White House also introduced higher tariffs on dozens of other trading partners, and then paused them until July to give the United States time to renegotiate existing trade arrangements.
The trade gap was the result of a 4.4 percent rise in imports to $419.0 billion, as people rushed to buy goods ahead of the introduction of the widely trailed tariffs.
Exports rose by a modest 0.2 percent to $278.5 billion.
“April may bring a last ditch effort of firms front running tariffs, but after that net exports are set to reverse dramatically,“ the economists at Wells Fargo said.
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