United States Balance of Trade

Last Release

May 31, 2025

Actual

-71.52

Units In

USD Million

-61.62

Frequency

Monthly

Next Release

Aug 05, 2025

Time to Release

19 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
1,946 Jun 1975	-109,802 Mar 2022	-16,644.83 USD Million	1950-2025	U.S. Census Bureau

The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. China is the top trading partner, accounting for 16 percent of total trade, followed by Canada (15 percent) and Mexico (15 percent).

Latest Updates

President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, “It’s all going to be the same for everyone, for that group", potentially between "10 or 15%". He noted these are “not big countries” with limited trade ties to the U.S., unlike China or Japan. All nations have faced a 10% baseline tariff since April. About two dozen countries, including the EU, Japan, and South Korea, have already received individual letters with tariff rates effective August 1, prompting last-minute negotiations for better terms. Countries with major trade deficits with the U.S., such as Taiwan, Switzerland, and India, are still awaiting notification. Trump gave mixed signals on India, saying, “We’re in a negotiation,” but also, “We’re very close to a deal.” On Japan, he said, “I think we’ll probably live by the letter,” suggesting no deal is likely.