Economic Warfare & Trade Policy Trade & tariffs
WASHINGTON — The U.S. goods and services trade deficit narrowed to $105.0 billion in September from a revised $105.7 billion in August, the Census Bureau and the Bureau of Economic Analysis said on Nov. 4. Exports rose $5.8 billion to $321.5 billion, and imports rose $5.2 billion to $426.6 billion.
Related: our Nov. 6 Geopolitics & Business Report.
Goods and services
The goods deficit fell $0.7 billion to $135.9 billion, and the services surplus slipped by less than $0.1 billion to $30.9 billion, the agencies said. Goods exports rose $5.1 billion to $211.0 billion, led by capital goods, up $3.8 billion, with computers, computer accessories and civilian aircraft all higher. Foods, feeds and beverages rose $1.9 billion, including $1.3 billion in soybeans.
The longer view
So far this year, the deficit is down $92.4 billion, or 12.2%, from the same period in 2025, with exports up 11.6% and imports up 6.2%. But the three-month average deficit rose $11.3 billion to $101.2 billion, and it was $36.5 billion higher than a year earlier, the release said.
What happens next
The next monthly trade report is due Tuesday, Dec. 8. More coverage is in Business & Finance.
Sources
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