economy

January 29, 2026

Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts

The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled.

Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts

TL;DR

  • The U.S. trade deficit nearly doubled in November, reaching $56.8 billion.
  • The deficit with the European Union increased by $8.2 billion.
  • The goods deficit with China decreased by approximately $1 billion.
  • The overall trade deficit through November was 4% higher year-over-year.
  • The increase in the deficit indicates limited success of President Trump's tariff strategy.
  • A framework agreement between the U.S. and EU in August aimed to stabilize relations.

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