Tariffs Struggle to Take Effect, US Goods Trade Deficit Hits Record High in 2022

Data released by the U.S. Department of Commerce on the 19th local time shows that the U.S. trade deficit for goods in 2025 reached a record $1.2409 trillion, an increase of $25.5 billion from the previous year, a 2.1% rise. The data also indicated that the U.S. goods and services trade deficit for 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 justifications used by the Trump administration for imposing tariffs on trade partners was that tariffs help reduce the trade deficit. Eugene Alemán, Chief Economist at Reje Financial Group’s Investment Strategy Department, stated that the 2025 trade deficit indicates that tariffs have a minimal impact on the overall deficit level. (CCTV News)