U.S. trade deficit in November surged 94% month-on-month, with deficit with the EU widening significantly.

Data released by the U.S. Census Bureau on Thursday shows that in November, the U.S. trade deficit with global partners nearly doubled. Due to a significant increase in the deficit with the European Union, as well as the gradual economic impact of President Trump's tariff policies, the U.S. trade deficit rose markedly.

In the previous month, the trade deficit fell to its lowest level since early 2009, but in November it quickly climbed to $56.8 billion, up 94.6% from October. About one-third of the increase came from the EU, with the U.S. goods trade deficit with the EU increasing by $8.2 billion.

Year over year, as of November, the U.S. cumulative annual trade deficit was $839.5 billion, about 4% higher than the same period in 2024.

The widening trade deficit contrasts with Trump's efforts to reduce global trade imbalances through tariffs. When the White House announced the so-called “reciprocal tariffs” in April 2025, it used the level of trade deficits with different countries as the basis for determining tariff rates.

Over time, Trump’s stance softened. In August, the U.S. and EU reached a framework agreement, setting most European goods tariffs at 15% and attempting to stabilize relations between the two sides.

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