Economic Report

Trade deficit balloons to record high in January as companies scramble to import goods to avoid tariffs

Many economists now see negative GDP growth in the first quarter due to the huge drag from the trade sector

Last Updated: March 6, 2025 at 9:42 a.m. ET
First Published: March 6, 2025 at 8:36 a.m. ET

Imports have surged since the presidential election in November. Photo: Sean Rayford/Getty Images

The numbers: The U.S. international trade deficit widened 34% in January to $131.4 billion, the Commerce Department said Thursday. It’s the widest deficit going back to the start of the series in 1992.

Economists surveyed by the Wall Street Journal had predicted the deficit would widen to a seasonally adjusted $128.7 billion.