Economy 📍

Imports to the U.S. grew to a record high in 2025, leaving the trade deficit little changed despite steep Trump administration tariffs aimed at closing trade gaps.

The nation’s trade deficit—the gap between imports and exports in both goods and services—was $901.5 billion last year, slightly smaller than the $903.5 billion deficit recorded in 2024, the Commerce Department said Thursday. The small change shows America’s role as a heavy net importer remains intact, at least thus far, despite seismic policy shifts during the year.

There were big swings in trade patterns along the way, however, including an early-year surge in imports as companies tried to get ahead of new tariffs. That surge rapidly reversed after some of the tariffs were rolled back and businesses adjusted to the new trade regime.

U.S. imports grew and the trade deficit remained historically large last year, data released Thursday showed, as steep tariffs imposed by President Trump scrambled trade but did not halt it.

High tariffs and unpredictable policy drove huge swings in trade last year. Companies stockpiled products ahead of tariffs going into effect, then halted imports. American investors bought and sold large quantities of foreign gold as a hedge against volatile markets.

But although hefty tariffs dampened purchases of imported cars, household consumer items and other goods somewhat, America’s trade with the world remained relatively robust. The United States imported chips to fill new artificial intelligence data centers and Americans snapped up foreign weight-loss drugs, all helping to buoy cross-border trade.