United States Balance of Trade

Last Release

May 31, 2025

Actual

-71.52

Units In

USD Million

-61.62

Frequency

Monthly

Next Release

Aug 05, 2025

Time to Release

21 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
1,946 Jun 1975	-109,802 Mar 2022	-16,644.83 USD Million	1950-2025	U.S. Census Bureau

The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. China is the top trading partner, accounting for 16 percent of total trade, followed by Canada (15 percent) and Mexico (15 percent).

Latest Updates

President Donald Trump warned on Monday that he would impose secondary tariffs of 100% on Russia if a peace deal with Ukraine isn’t reached within 50 days. “We are going to be doing very severe tariffs if you don't have a deal in 50 days, perhaps 100%,” he said during a meeting with NATO Secretary-General Mark Rutte. These secondary tariffs would penalize any country trading with Russia, allowing the U.S. to impose steep duties on imports from those nations. While U.S. trade with Russia dropped to $3.5 billion in 2024, indirect trade routes remain significant. Trump’s proposed 100% rate is notably lower than a Senate-backed bipartisan bill, the Sanctioning Russia Act of 2025, which seeks a 500% tariff on Russian imports and similar secondary tariffs on countries buying Russian oil, gas, uranium, or petroleum. A Senate vote could happen later this month, according to Majority Leader John Thune. Key U.S. partners potentially affected include China, India, South Korea, and Turkey.