美国补发8月贸易数据 逆差大幅收窄至596亿美元 黄金进口暴跌

Core Insights - The latest data from the U.S. Department of Commerce indicates a significant narrowing of the trade deficit in August, attributed to a sharp decline in imports following the implementation of global tariffs announced by President Trump [1][3] - The trade deficit for goods and services decreased by nearly 24% from July, reaching $59.6 billion, which was better than the market expectation of $60.4 billion [1][3] Trade Data Summary - Total imports in August fell by 5.1%, marking the largest decline in four months, while exports saw a slight increase [3] - The previous month, July, experienced an expansion of the trade deficit due to businesses accelerating inventory purchases ahead of the implementation of tariffs [3] - The volatility in trade data is expected to impact economic indicators such as GDP, with the Atlanta Fed's GDPNow model indicating a 0.57 percentage point contribution from net exports to Q3 GDP [3] Import Dynamics - The primary reason for the decline in imports was a significant reduction in non-monetary gold imports, directly linked to increased tariffs on Swiss gold products [3] - The U.S. trade deficit with Switzerland has notably narrowed due to these tariff adjustments, and an agreement has been reached to lower gold import taxes [3] - Additionally, there was a decrease in imports of capital goods, including computer parts and communication equipment [3] Adjusted Trade Deficit - After inflation adjustment, the trade deficit for goods in August narrowed to $83.7 billion, the smallest since the end of 2023 [3] - The trade deficit with China expanded to its highest level since April, while the deficit with Mexico slightly decreased and the deficit with Canada significantly narrowed [3]