Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts
By CNBC
February 8, 2026, 4:26 PM EST
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Shenzhen, Guangdong (CNBC) — The U.S. trade deficit with global partners nearly doubled in November, reaching $56.8 billion, driven by a surge in the shortfall with the European Union and the impact of Trump’s tariffs.
Impact of Rising Trade Deficit
The deficit rose by 94.6% from October, with about one-third attributed to the EU. However, the goods deficit with China decreased by $1 billion to $13.9 billion.
Year-Over-Year Increase
On a year-over-year basis, the deficit through November stood at $839.5 billion, marking a 4% increase compared to the same period in 2024.
