The U.S. will import less and our exports will likely also suffer because of retaliatory tariffs from other countries.

The trade deficit grew as imports increased by $16 billion in March, the Census Bureau reported.

Because if we want to buy imports, we either have to export an equivalent amount or borrow money.

Economists say that if foreigners buy fewer American goods, then the federal government needs to spend less, but that’s not happening.

A January surge in imports will have a negative impact on GDP in the near term. A protracted trade war would drag down economic growth in the long run.

The trade gap signals strong demand for imports, which can be a good sign for the economy. Also, it’s been fairly stable relative to GDP.

Sales of U.S. services to other countries help to redress the balance, along with foreign institutions that invest in the American stock market and debt.

Prices may continue to stay high if services and imports rise in tandem.

Food exports are doing well, but imports are up. The strong dollar is part of the equation.

Trade deficit numbers get a lot of attention in election years. Here are some things to know about the nuance behind the numbers.