By Ethan RileyJuly 18, 2026 Business Soaring imports push US goods trade deficit to 14-month high in May Alternative options: – US goods trade deficit hits 14-month peak as imports surge in May – Imports spike in May, driving US goods deficit to highest level in over a year – May import boo The US goods trade deficit hit a 14-month high in May, driven by a sharp surge in imports. Rising demand for foreign goods outpaced exports, widening the trade gap, according to Reuters data.