Census: Goods trade deficit hit all-time peak in 2024

The U.S. Census Bureau’s final monthly report on U.S. international trade for 2024 found a $1.2 trillion gap between goods imports and exports for the full year -- the “highest on record” -- just as President Trump and his team are looking to reshape U.S. trade policy around reducing or eliminating such deficits. The combined goods and services deficit totaled $98.4 billion for December, spiking $19.5 billion from the November level of $78.9 billion, according to the Feb. 5 report...