US trade deficit blows past $900 billion in 2025, worst since 1960. The trade deficit has actually widened by 19% since Liberation Day

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US TRADE DEFICIT WIDENS, CAPPING ONE OF BIGGEST SINCE 1960

The U.S. trade deficit widened to $70.3 billion in December, pushing the full-year gap to $901.5 billion — among the largest since 1960, Commerce Department data showed.

Imports rose 3.6% in December, while exports fell 1.7%. Economists had expected a $55.5 billion deficit. The goods shortfall, adjusted for inflation, expanded to $97.1 billion, the widest since July.

Trade flows were volatile throughout 2025 as importers responded to shifting tariff announcements from Donald Trump. Gold and pharmaceutical imports were especially uneven, while December’s import gains were driven by computer accessories and motor vehicles. Export declines largely reflected reduced gold shipments.

The data feed into fourth-quarter GDP estimates, with the Federal Reserve Bank of Atlanta projecting net exports will add 0.6 percentage point to growth, currently forecast at 3.6%.