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2026-02-20 09:11:43
[Tariffs Fail to Work, US Goods Trade Deficit Hits Record High Last Year] Data released by the US Department of Commerce on the 19th showed that the US goods trade deficit reached a record $1.2409 trillion in 2025, an increase of $25.5 billion from the previous year, representing a growth of 2.1%. The data also showed that the US goods and services trade deficit in December 2025 was $70.3 billion, a month-on-month increase of 32.6%, marking the second consecutive month of significant month-on-month growth. One of the main pretexts used by the Trump administration to impose tariffs on trading partners was that tariffs would help reduce the trade deficit. Eugenio Alleman, chief economist of investment strategy at Raymond Jahn Financial Group, said the 2025 trade deficit indicates that tariffs have a small impact on the overall deficit level. (CCTV)
