📈 U.S. Global Trade Balance in 2024

In 2024, the U.S. goods trade deficit totaled $1.2 trillion. The deficit with China stood at $295 billion, accounting for 24.6% of the total. Trade deficits with North American partners—Mexico ($172 billion) and Canada ($63 billion)—combined for 19.6% of the total. The deficit with the European Union reached $236 billion, also representing 19.6% of the overall shortfall.