According to CoinMeta, the U.S. trade deficit in goods expanded to $118.8 billion in July, reaching a new high since March 2025, an increase of 17.2% from the previous month. Data from the U.S. Department of Commerce shows that imports grew by 3.7% in July, while goods exports declined by 2.9%. In recent months, the U.S. trade deficit has been fluctuating, affected by the increased global demand for U.S. oil products driven by the Iran war, as well as companies stockpiling goods and raw materials to reduce the risk of supply chain disruptions. Imports of equipment related to artificial intelligence have remained strong.