The U.S. current account deficit ballooned to a historic $450.2 billion in Q1 2025, driven by a surge in goods imports ahead of impending tariff hikes, the Commerce Department reported yesterday. The deficit widened by $138.2 billion, or 44.3%, from the previous quarter, reaching 6.0% of current-dollar GDP—up from 4.2% in Q4 2024.
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