US trade deficit expands sharply as imports surgeReuters, WASHINGTONThe US trade deficit widened sharply in December amid a surge in imports, and the goods shortfall last year was the highest on record, despite US President Donald Trump’s tariffs on foreign manufactured merchandise. The second straight monthly deterioration in the trade deficit reported by the US Department of Commerce on Thursday suggested that trade made little or no contribution to GDP in the fourth quarter. Record goods trade deficits were reported with Taiwan, Mexico, Vietnam, Ireland, Thailand and India. The goods trade deficit with China shrank to US$202.1 billion from US$295.5 billion in 2024. The goods trade deficit widened 18.8 percent to US$99.3 billion in December.
