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The trade deficit grew from -$78.9 billion to -$98.4 billion in December. As US based companies rush to import their products & materials ahead of the proposed tariff debate. This is the 2nd worst monthly trade deficit on record, only being eclipsed by the -$101.9 billion in March 2022.

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Total imports grew 3.5% in December ($12.4 billion), while total exports declined 2.6% (-$7.0 billion). Which is why the total trade deficit grew. Exports grew +2.55% in 2024, while imports grew +13.59%.

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Total trade activity (exports + imports) increased to another record at $631.5 billion.

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Total trade was up 1% for the month and 8% for the year. Consistent with a growing economy.

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