U.S. exports of goods and services rose 2.6 percent in April, to $327.1 billion, according to data the Commerce Department released on Tuesday, as the war with Iran boosted U.S. exports of oil and petroleum products.
Imports also rose, climbing 2 percent from the previous month, to hit $383 billion, as the United States imported electronics to fill out data centers.
The combination shrank the monthly trade deficit, the gap between what the United States imports and what it exports. The U.S. trade deficit in goods and services dipped to $55.9 billion in April, down 1.2 percent from the previous month.
The imposition of various tariffs and the disruption to global supply chains from war in Iran have made trade extremely volatile. The closure of the Strait of Hormuz has scrambled some global supply chains and pushed up the price of products from the Middle East, including oil, fertilizer, product packaging and helium.
Importers are also preparing for the possibility of higher tariffs this year. In 2025, Mr. Trump imposed double-digit tariffs globally that varied depending on the trade negotiations the United States had carried out with individual countries, various economic factors and the president’s whims. But in February, the Supreme Court struck down those tariffs, ruling that Mr. Trump had exceeded his legal authorities in imposing them last year.
That administration withdrew those tariffs, and immediately replaced them with a flat 10 percent duty on every trading partner, issued under a legal authority known as Section 122.
The Section 122 tariff will expire in July unless Congress votes to reauthorize it. The Trump administration has been working on tariffs to replace it. Last week, it announced it would use a provision known as Section 301 to impose tariffs of 10 to 12.5 percent on more than 80 countries, potentially as soon as next month. More tariffs are on the way that would be added to those, most likely returning tariff rates to the levels seen before the Supreme Court decision.
