Tariffs Helped Drive Decline in Trade Deficit

June 26, 2026

The U.S. trade deficit in goods — the target of tariffs — increased by about 2% in 2025. However, the annual data was skewed by heavy import activity in late 2024 and early 2025 as businesses stockpiled foreign goods in anticipation of increased tariffs.



The monthly goods deficit began to decline with new tariffs in April 2025 and was 4.7% lower in March 2026 than in March 2024. Over the same period, the monthly total trade deficit dropped by 9.0% due to the declining goods deficit and a growing U.S. surplus in services.

Line chart of U.S. international trade deficit and total trade, with ship imagery and monthly dollar values.

All Securities Through Money Concepts Capital Corp., Member FINRA / SIPC

11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000

Copyright 2010 Money Concepts International Inc.

Investments are not FDIC or NCUA Insured

May Lose Value - No Bank or Credit Union Guarantee

This communication is strictly intended for individuals residing in the state(s) of MI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2020.

Two people smiling together in a bright kitchen, looking at something on a counter
By TFC Team July 24, 2026
Learn how to help protect your child's identity from theft with credit freezes, secure records, online safety tips, and warning signs to watch.
Family standing on a beach, looking out at the water near grassy dunes.
By TFC Team July 24, 2026
Test your estate planning knowledge with this quiz covering wills, trusts, probate, powers of attorney, executors, and beneficiary designations.
People gathered outside a large blue civic building, relaxing and talking in a green park.
By TFC Team July 24, 2026
Higher education in 2026 brings rising college costs, new 529 rules, student loan caps, repayment plans, and more options for job training.
Woman in a kitchen holding a bundle of cash near a sink and flowers
By TFC Team July 24, 2026
Learn how the Federal Reserve uses the PCE price index, core PCE, and its 2% inflation target to guide interest rate decisions.
Show More