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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
New York, February 19 (Xinhua) — The United States' trade deficit will reach a record $1.24 trillion in 2025, up 2.1 percent from the previous year, according to data released Thursday by the U.S. Bureau of Economic Analysis.
Statistics show that the annual value of US goods exports and imports in 2025 was $2.19 trillion and $3.43 trillion, respectively.
Among major trading partners, the U.S. trade deficit with the European Union narrowed by $17.12 billion year-on-year, while the trade deficits with Mexico and Vietnam widened by $25.42 billion and $54.73 billion year-on-year, respectively.
According to the data, the US trade surplus in services amounted to $339.47 billion in 2025, which is $27.6 billion (8.85 percent) more than the previous year.
“The 2025 deficit shows how little impact tariffs have had on the overall deficit so far, distorting monthly trade flows as U.S. businesses adjusted to tariff changes,” MarketWatch quotes Eugenio Aleman, chief economist at Raymond James.
Tariffs have significantly disrupted trade, with the effective tariff rate in the U.S. reaching 7.7 percent in 2025, the highest since 1947, said Erica York, vice president of federal tax policy at the Tax Foundation.
The Trump administration argues that tariffs will help bring back manufacturing jobs and reduce the U.S. trade deficit, as the country imposes additional tariffs on goods from most of its trading partners in 2025. –0–
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