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United States trade deficits from 1997 to 2021. Deficits are over 50 billion dollars as of 2021 with the countries shown. Data from the US Census Bureau.. The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries.
In 2018, the year that a trade war with China was launched by U.S. President Donald Trump, the U.S. trade deficit in goods reached $891 billion, which was the largest on record [29] before the $1,183 billion deficit in the trade of goods recorded in 2021. [30]
U.S. trade deficit, in billions, goods only, by country, 2014. On March 22, 2018, Trump signed a memorandum under the Section 301 of the Trade Act of 1974, instructing the United States Trade Representative (USTR) to apply tariffs of $50 billion on Chinese goods.
The richest country in the world has run a trade deficit every single year since 1976. The Economy and Your Money: ... In the United States, the Bureau of Economic Analysis (BEA) is the agency in ...
This data underscored the U.S. central bank's projection last month of only two rate cuts this year compared to the four it had forecast in September. ... the trade deficit widened by 6.2% to $78. ...
Indeed, the EU has consistently exported more goods to the United States than it has imported and the U.S. goods trade deficit stood at 155.8 billion euros ($161.6 billion) in 2023, according to ...
English: United States deficit by country (in billions, goods only) showing the countries with the largest deficit and the percent of total for each for 2019. Data source US Census Bureau Date
In 2017, the last full year before Trump's tariffs were imposed, America's overall trade deficit was $517 billion. By 2023, it had grown to $785 billion, according to new Census Bureau data .