U.S. Global Trade Balance in 2023

In 2023, the U.S. goods trade deficit amounted to $1.153 trillion. The deficit with China reached $300 billion, representing 26% of the total. The trade deficits with NAFTA partners—Mexico ($157 billion) and Canada ($78 billion)—together accounted for 20.4% of the total. The European Union followed, with a trade deficit of $220 billion, making up 19.1% of the total.