Trump: plans to use tariff revenues to pay down debt
President Trump: plans to use tariff revenues to pay down debt.
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Oil and AI chip imports drive U.S. August trade deficit to expand to 105.6 billions, reaching a 17-month high
The U.S. trade deficit widened to $105.6 billion in August, reaching its highest level since March 2025, with imports hitting a record $420.8 billion. This surge was mainly driven by a significant rise in semiconductor and capital goods imports due to AI data center construction. The larger-than-expected deficit led Goldman Sachs and the Atlanta Fed to lower their third-quarter GDP forecasts.