[Amid the AI Boom, US Capital Goods Imports Hit a New High Since 1993] According to foreign media reports, US merchandise imports rose 3.7% in July. The growth was primarily driven by capital goods, which saw the highest increase since 1993. This category includes computers and accessories, semiconductors, and telecommunications equipment. Imports of artificial intelligence-related equipment have remained strong in recent months. Data also shows that both imports and exports of industrial goods declined in July. This category includes crude oil and petroleum products, as well as non-monetary gold, the latter having contributed to trade volatility over the past year.
