US Import Collapse Ripples Through Gold and Tech Sectors, GDP Calculations Adjust

The US trade deficit has undergone significant fluctuations following President Donald Trump's renewed tariff policies. A 5.1% plunge in imports—the steepest monthly drop in four months—drove the deficit contraction, while exports saw marginal gains. These unadjusted figures reveal a clear trend: companies are scaling back foreign purchases as Trump's tariffs take effect.

Gold and tech sectors bore the brunt of the import collapse. The volatility stems from businesses front-running tariff deadlines in prior months, creating artificial import surges now unwinding. This distortion complicates GDP calculations—the Atlanta Fed's GDPNow model previously estimated net exports contributed 0.57 percentage points to growth.

Economic reporting delays from the historic government shutdown continue to cloud visibility. Key trade data originally scheduled for early October remains unreleased, leaving markets to navigate without crucial benchmarks.