High tariffs were supposed to slash chronically large U.S. trade deficits. Turns out they really didn’t. The trade deficit in 2025 was the third-largest ever.

The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries.

The U.S. ice cream trade surplus largely diminished in 2021 under former President Joe Biden and turned to a deficit in 2022. The change was driven mostly by a jump in imports, primarily from Italy.

Data released Thursday by the Census Bureau showed the overall trade deficit with the world narrowed, the result of an expanding trade surplus in services. The trade deficit in goods was the highest ...

Services imports increased $0.3 billion to $75.8 billion, lifted by other business services, telecommunications, computer and information services. Travel imports edged up, but imports of transport ...

The trade deficit has followed a rocky course over the past 12 months, buffeted by Trump’s aggressive renegotiations with trading partners.

Forbes contributors publish independent expert analyses and insights. Two decades analyzing U.S. trade data by port, country, export, import Exports are down to eight of the top 10 markets, including ...

When China joined the World Trade Organization in 2001, it marked a major global shift. As tariff barriers were lowered and quotas reduced, it spurred growth in import of commodities, machinery, ...

WASHINGTON (Reuters) -The U.S. trade deficit narrowed more than expected in August as businesses imported fewer goods against the backdrop of higher tariffs, a trend that if sustained could be a ...

The U.S. trade deficit with the world will set a record in 2025, which will be the fourth record in Trump’s five years in office, according to my analysis of U.S. Census Bureau data. It will surpass ...

WASHINGTON — President Donald Trump and European Union leaders announced a trade framework over the weekend, just days ahead of Trump’s self-imposed Friday deadline to increase import taxes and his ...