Economy

U.S. imports grew and the trade deficit remained historically large last year, data released Thursday showed, as steep tariffs imposed by President Trump scrambled trade but did not halt it.

High tariffs and unpredictable policy drove huge swings in trade last year. Companies stockpiled products ahead of tariffs going into effect, then halted imports. American investors bought and sold large quantities of foreign gold as a hedge against volatile markets.

But although hefty tariffs dampened purchases of imported cars, household consumer items and other goods somewhat, America’s trade with the world remained relatively robust. The United States imported chips to fill new artificial intelligence data centers and Americans snapped up foreign weight-loss drugs, all helping to buoy cross-border trade.