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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]
The following is a list and analysis of imports into the United States for 2020 and 2019 in millions of United States dollars. [1] [2] The United States imported $2,810.6 billion worth of goods and services in 2020, down $2,945 billion from 2019. This consisted of $2,350.6 billion worth of goods and $460.1 billion worth of services.
The politically sensitive goods trade deficit with China increased $4.9 billion to $27.2 billion. Exports to China fell $1.0 billion while imports advanced $3.9 billion.
The U.S. trade deficit in goods widened to a 2-1/2-year high in September amid a surge in imports, prompting some economists to trim their economic growth estimates for the third quarter.
The U.S. trade deficit widened by the most in eight years in April as imports of goods rebounded while exports of energy products declined, a trend that if sustained, could result in trade being a ...
The New York Times reported on June 10, 2020, that "the United States budget deficit grew to a record $1.88 trillion for the first eight months of this fiscal year." [132] The US economy recovered from the COVID-19 pandemic in 2021, growing by 5.7%, which was its best performance since Ronald Reagan's presidency (1981–1989). [133]
A trade deficit occurs when a country imports more than it exports -- and that's a good thing for a national economy. ... The richest country in the world has run a trade deficit every single year ...