According to data released today by the US Department of Commerce, the US is expected to record a trade deficit of $1.24 trillion in 2025, an increase of 2.1% from the previous year, the highest level ever.
That’s because imports have grown faster than exports over the past year, even though President Donald Trump’s administration has imposed tariffs on most imports.
imports increase
U.S. imports of goods will increase to $3.43 trillion in 2025, and imports of services will reach $895 billion. Exports recorded an increase, but at a low rate, with goods holding steady at $2.19 trillion and services at $1.23 trillion.
The deficit in the goods and services trade balance accelerated to $70.3 billion in December last year, an increase of 32.6% compared to November last year, which exceeded expectations that the trade deficit in December would be in the range of $56 billion.
Decrease in exports
The widening of the deficit in the last month of last year is mainly explained by a decline in exports and an increase in imports due to a decline in non-monetary gold exports and an increase in imports of raw materials, metals, energy and investment goods.
At the geographic level, the United States has the largest trade deficits with the European Union, China, and Mexico.
