The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced on Tuesday that Americans went on a no-holds-barred foreign goods shopping spree like no other.

The goods and services trade deficit was an astounding $140.5 billion in March, with total imports of $419.0 billion!

In total, the trade deficit increased by $17.3 billion from February.

Even more mind-boggling, year-to-date, the goods and services deficit increased $189.6 billion, or 92.6 percent, from the same period in 2024. 

All because of Trump’s tariffs.

So much for this Administration’s promise that there would be a surge of ‘buy American’.

All the tariffs did was pull forward demand and have panic buying from foreign suppliers – how exactly does that help American producers?

American companies only exported a paltry $278.5 billion in comparison to the importing bonanza.

What exactly were Americans purchasing?

Mostly just stuff – basic consumer goods. The consumer goods category increased by $22.5 billion.

The second-highest category was pharmaceuticals, which increased by $20.9 billion, not surprisingly, given the Administration’s recent efforts to bring drug production back to America.

Also interesting are the categories that decreased.

The largest category to see a drop was industrial supplies and materials, which decreased by $10.7 billion.

Hmm, aren’t industrial supplies and materials essential to manufacturing?

Didn’t this Administration promise that they would be bringing about an ‘economic revolution’ with manufacturing and ‘tons’ of jobs?

One would think that if manufacturing production is ramping up, those manufacturers would be purchasing the supplies and materials they need.

Ultimately, the American public is being sold a bad deal. Prices are not decreasing, manufacturing is not increasing, and the economy is on a downward slope.

That means life is likely to become more expensive for everyday Americans.