US trade deficit hits $77.6 billion amid AI tech imports
Business
The US trade deficit shot up by 42.2% in May 2026, landing at $77.6 billion, a big jump mostly fueled by companies importing more tech gear for AI projects.
Imports overall hit $395.3 billion, with capital goods (think computers and machinery) reaching a new record.
US exports fall, petroleum shipments peak
While imports soared, US exports actually dropped by 3.2% to $317.7 billion.
The one bright spot? Petroleum shipments hit an all-time high as global tensions rose.
Still, the growing gap between imports and exports has been dragging down the economy for two quarters now.
GDP growth is expected to slow to just 1.2%.