US Trade Deficit Jumps 94% in November Despite Tariff Measures

The United States trade deficit surged sharply in November, nearly doubling from the previous month, despite ongoing tariff measures aimed at narrowing the gap with key trading partners.

Data released by the US Census Bureau showed the trade deficit widened to $56.8 billion, marking a 94.6% increase from October, when the shortfall had fallen to its lowest level since early 2009.

A significant portion of the increase was driven by trade with the European Union. The US goods deficit with the bloc expanded by $8.2 billion, accounting for roughly one-third of the overall rise. In contrast, the goods deficit with China declined by about $1 billion to $13.9 billion.

On a year-on-year basis, the cumulative US trade deficit through November reached $839.5 billion, around 4% higher than the same period in 2024.

The widening deficit runs counter to efforts by Donald Trump to reduce trade imbalances through tariffs. The administration introduced so-called reciprocal tariffs in April 2025, using bilateral trade deficits as a benchmark for determining duty levels.

However, the approach was later softened. In August, the US and the European Union reached a framework agreement setting tariffs at 15% on most European goods, aiming to ease trade tensions and stabilise economic relations.

Economists say the latest figures highlight the complexity of using tariffs alone to reshape global trade flows, particularly amid shifting demand patterns and ongoing geopolitical uncertainty.