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U.S. imports of goods and services edged down to $401.1 billion in February 2025, nearly unchanged from January’s record high of $401.2 billion, as businesses and consumers ramped up purchases ahead of new tariffs imposed by the Trump administration in early March. Increases in imports of consumer goods (up $2.4 billion), including cell phones, household items, and pharmaceuticals, as well as capital goods (up $1.0 billion), such as computers and medical equipment, were partially offset by a $4.2 billion decline in industrial supplies and materials, led by drops in finished metal shapes and nonmonetary gold.