The U.S. goods trade deficit expanded by 11.5% month-over-month in August to $132.6 billion, the largest monthly deficit since early 2025, significantly exceeding market expectations of $115 billion, data from the Commerce Department showed on Wednesday. A 16.6% surge in imports of industrial supplies was the primary driver. Analysts believe that net exports could further deepen their drag on U.S. third-quarter economic growth.