US Reaches Record $1.2 Trillion Trade Deficit in 2025, the Year of Tariffs
Pyden&Rygel | Data released last week shows that the US nominal goods trade deficit widened to $1.2 trillion in 2025, the highest level since 1960. This occurred despite the most significant tariff tightening in decades, which had the explicit goal of narrowing that very gap. How can this contradiction be explained? The answer lies in the reorganization of supply chains. Importers took advantage of differences in tariff rates between countries,…
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