Since President Donald Trump unveiled the contours of his global tariff plans, the U.S. trade deficit has registered a sharp turnaround after years of staggering trade imbalances.
In October, the goods and services trade deficit declined by 39 percent from the previous month to $29.4 billion—the smallest monthly deficit in 16 years.
Expanding the lens reveals further narrowing of the imbalance since the president revealed his sweeping trade agenda on April 2.
The April-October trade gap fell by 25 percent compared with the same period in the previous year, totaling $397.33 billion, according to historical data from the Bureau of Economic Analysis. By comparison, the U.S. trade deficit was $527.06 billion from April to October 2024….
April-October US Trade Deficit Shrinks 25 Percent—How Did This Happen?
