Core Insights - The U.S. current account deficit surged to $450.2 billion in Q1, significantly higher than the revised $312 billion from the previous quarter, marking a record high [1] - The increase in the current account deficit is primarily attributed to a substantial rise in the trade deficit, driven by fluctuating trade policies and tariffs [1] Trade Data Summary - Exports rose by $21.1 billion to reach $539 billion, while imports skyrocketed by $158.2 billion to $1 trillion [1] - The surge in imports was mainly fueled by "non-monetary gold" and consumer goods, particularly pharmaceuticals and dental products [1] - The increase in gold imports blurred the lines between ordinary goods and investment products [1] - The growth in exports was largely driven by civil aircraft and computer-related products [1]