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The shift in fortunes began during President Donald Trump’s trade war with China in his first term, with the initial annual deficits recorded in 2019 and 2020.

The U.S. merchandise-trade deficit unexpectedly widened in May on the biggest drop in exports since the onset of the pandemic, while imports were little changed.

The U.S. trade deficit narrowed in April by the most on record on the largest-ever plunge in imports, illustrating an abrupt end to the massive front-loading of goods by some companies.

The U.S. trade deficit widened to a record in March as companies rushed to import products as the Trump administration readied sweeping tariffs.

The U.S. trade deficit widened to a record in January as companies scrambled to secure goods from overseas before President Donald Trump imposed tariffs on the largest U.S. trading partners.

The U.S. trade deficit narrowed in August to the smallest in five months, helped by a larger services surplus and a pickup in merchandise exports.

The U.S. trade deficit widened to a two-year high in July, fueled by a surge in imports of goods and stepped-up efforts to ensure adequate supply ahead of a potential dockworkers strike.

The U.S. trade deficit widened in May to the largest since 2022 as a decline in exports of merchandise exceeded a drop in imports.

The U.S. trade deficit widened in July by less than forecast, reflecting an increase in exports of cars and services.

The U.S. trade deficit widened to a record last year on a surge in imports as American companies scrambled early on to ensure they had enough merchandise on hand to meet demand.