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The gap in goods and services trade shrank more than 25% from the prior month to $54.5 billion, Commerce Department data showed March 12.

The goods and services trade gap expanded from the prior month to $70.3 billion. The shortfall culminated in a full-year deficit of $901.5 billion, still one of the largest in data back to 1960.

The goods and services trade gap nearly doubled from the prior month to $56.8 billion, Commerce Department data showed Jan. 29. The trade data has been prone to volatility related to trade policy.

The United States has imposed a 15% tariff on most imports from Japan. Another concern is the impact on Japanese manufacturing, including automakers, from China’s curbs on exports of rare earths.

December's deficit was $145 billion, per Treasury Department data. For the first three months of the 2026 fiscal year beginning Oct. 1, the shortfall came in at $602 billion.

The goods and services trade gap shrank 39% from the prior month to $29.4 billion, Commerce Department data showed Jan. 8. Imports decreased 3.2%.

President Trump's double-digit taxes on imports from almost every country have disrupted global commerce and strained the budgets of consumers and businesses worldwide.

The goods and services trade gap shrank nearly 11% from the prior month to $52.8 billion, Commerce Department data showed Dec. 11.

The goods and services trade gap narrowed almost 24% from the prior month to $59.6 billion, the Commerce Department said. The report was delayed from Oct. 7 by the federal government shutdown.

The deficit for the fiscal year was $1.78 trillion, down from $1.82 trillion in 2024, a drop of 2%, according to figures released by the Treasury Department Oct. 16.