The goods trade gap increased 9.6% to $162.0 billion, the Commerce Department's Census Bureau said on Tuesday. Goods imports soared $16.3 billion to $342.7 billion, likely as businesses rushed to bring in goods to avoid President Donald Trump's sweeping tariffs.

Economists have cautioned that imports, which were also boosted by nonmonetary gold imports, could greatly exaggerate an anticipated economic slowdown in gross domestic product growth in the January-March quarter. Imports are a subtraction in the calculation of GDP.
Goods exports rose $2.2 billion to $180.8 billion in March.

The government is scheduled to publish its advance GDP estimate for the first quarter on Wednesday, which will coincide with Trump's 100 days in office.

--Reuters--