{"id":271445,"date":"2026-01-30T06:21:09","date_gmt":"2026-01-30T06:21:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/271445\/"},"modified":"2026-01-30T06:21:09","modified_gmt":"2026-01-30T06:21:09","slug":"trade-deficit-soared-94-in-november-and-was-higher-than-a-year-ago-despite-tariff-efforts","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/271445\/","title":{"rendered":"Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts"},"content":{"rendered":"

A boat moves past a cargo ship with containers at a terminal of the Yantian port in Shenzhen, Guangdong province, China October 30, 2025. <\/p>\n

Tingshu Wang | Reuters<\/p>\n

The U.S. deficit with its global trading partners nearly doubled in November as the shortfall with the European Union swelled and the impact of President Donald Trump<\/a>‘s tariffs worked their way through the economy, the Census Bureau reported Thursday.<\/p>\n

Following a month where the trade deficit<\/a> hit its lowest level since early 2009, it shot up to $56.8 billion, an increase of 94.6% from October. Of that gain, about one-third came with the European Union, where the goods deficit rose by $8.2 billion. The goods deficit with China decreased by about $1 billion to $13.9 billion.<\/p>\n

On a year-over-year basis, the deficit through November stood at $839.5 billion, or about 4% higher than the same period in 2024.<\/p>\n

The increase in the deficit counters Trump’s efforts to use tariffs to reduce imbalances around the globe. When announcing so-called reciprocal tariffs in April 2025, the White House used the level of trade deficits with varying countries as a baseline for determining the duties.<\/p>\n

As the year went by, Trump softened his stance. A framework agreement between the U.S. and the EU in August put the tariff rate at 15% on most European goods and sought to stabilize relations between the two sides.<\/p>\n

Clarification: The headline on this story was updated to clarify that it was the trade deficit that soared 94% in November.<\/p>\n","protected":false},"excerpt":{"rendered":"A boat moves past a cargo ship with containers at a terminal of the Yantian port in Shenzhen,…\n","protected":false},"author":2,"featured_media":271446,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2476,3393,72,122,7234,969,113,61,60,1628],"class_list":["post-271445","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-breaking-news","tag-breaking-news-economy","tag-business","tag-business-news","tag-donald-j-trump","tag-donald-trump","tag-economy","tag-ie","tag-ireland","tag-trade"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/271445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=271445"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/271445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/271446"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=271445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=271445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=271445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}