By Sadiq Al Gobahi 
The U.S. trade deficit has widened to a 30-month high in September, driven by a significant surge in imports as businesses rushed to stock up before a planned strike at American ports1. The trade gap increased by 19.2% to reach $84.4 billion, up from $70.8 billion in August2. This rise in imports was primarily due to businesses importing consumer electronics and other goods ahead of the holiday shopping season2.
Despite the strike being called off after just three days, the surge in imports had already impacted the economy2. The trade deficit shaved 0.6 percentage points off the U.S. GDP growth rate for the third quarter, which was recorded at 2.8% compared to 3.0% in the second quarter2. Imports rose by 3.0% to a record $352.3 billion, while exports fell by 1.2% to $267.9 billion2.
Analysts believe that the trade deficit is likely to narrow in the coming months, but the current high levels indicate strong consumer spending power2. The trade gap with China also widened during this period, reflecting increased imports from China ahead of potential changes in trade policies3.
For more details, you can read the full article on MarketWatch.
Osama