U.S Trade Deficit Hits New High in November, Soaring 94% Despite Tariff Efforts

The U.S. trade deficit with its global trading partners nearly doubled in November, as the shortfall with the European Union jumped while the effects of Trump’s tariffs worked their way through the economy. After hitting its lowest level since early 2009 in the previous month, the deficit surged to $56.8 billion, up 94.6% from October. Through November, the U.S. trade deficit rose 4% year-over-year to $839.5 billion. The EU deficit increased by $8.2 billion, while China’s fell by $1 billion, partially offsetting the impact of Trump’s 2025 reciprocal tariff strategy aimed at reducing imbalances.