The U.S. posted a record trade deficit in goods in 2024, spotlighting what is likely to be a constant eyesore under the second administration of President Trump, which is encouraging more domestic production.

The U.S. trade deficit in goods widened to a record high in December, likely as businesses front-loaded imports of industrial supplies and consumer goods in anticipation of broad tariffs from President Donald Trump's new administration.

The Philippines’ trade deficit with the rest of the world widened to $54.2 billion in 2024 from $52.6 billion in 2023 because of the shrinking exports,

The US merchandise-trade deficit widened in December to a record as the value of imports increased, highlighting a key issue that President Donald Trump aims to rectify in his second term.

U.S. President Donald Trump has promised to address a longstanding trade deficit with the European Union, saying he will reverse that by imposing tariffs or making the EU buy more U.S. oil and gas.

The deterioration in the goods trade deficit reported by the Commerce Department on Wednesday raises the risk of a sharper slowdown in gross domestic product growth in the fourth quarter than economists had anticipated.