The U.S. trade deficit in November surged 94% month-on-month, with a significant expansion of the deficit with the European Union
In November, the U.S. trade deficit soared by 94.6% month-on-month to $56.8 billion, primarily due to a significant increase in the deficit with the European Union, which rose by $8.2 billion. Although the trade deficit had previously fallen to its lowest level since 2009, the impact of Trump's tariff policy is gradually becoming apparent. The cumulative trade deficit for the year reached $839.5 billion, an increase of approximately 4% year-on-year. The White House had previously set tariff rates based on the level of the trade deficit, and recently, the U.S. and Europe reached an agreement to set tariffs on most European goods at 15%
Data released by the U.S. Census Bureau on Thursday showed that the trade deficit between the U.S. and its global trading partners nearly doubled in November. The significant widening of the deficit with the European Union, along with the gradual impact of President Trump's tariff policies on the economy, has led to a notable increase in the U.S. trade deficit.
In the previous month, the trade deficit had fallen to its lowest level since early 2009, but it quickly surged to $56.8 billion in November, an increase of 94.6% from October. About one-third of the increase came from the European Union, where the U.S. goods trade deficit rose by $8.2 billion.
Year-on-year, as of November, the U.S. cumulative trade deficit for the year reached $839.5 billion, approximately 4% higher than the same period in 2024.
The widening trade deficit contrasts with Trump's efforts to reduce global trade imbalances through tariffs. When the White House announced the so-called "reciprocal tariffs" in April 2025, it used the trade deficit levels between the U.S. and various countries as a benchmark for determining tariff rates.
Over time, Trump's stance has softened. In August, the U.S. and Europe reached a framework agreement that set the tariff rate for most European goods at 15% and aimed to stabilize relations between the two sides.
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