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The trade deficit is wider now than before the tariffs existed

The last time it was this wide was March 2025 — one month before Liberation Day tariffs were supposed to fix it.

One Number
One Number

Oct 29, 2026

105,6

THE ECONOMY & MAIN STREET • TRADE & MANUFACTURING

That’s what left the country — net — in a single month. August 2026. The U.S. imported a record $420.8 billion in goods and services while exporting $315.2 billion. The gap: $105.6 billion, the widest since March 2025, right before tariffs were supposed to fix this. Your share, as a household? About $788. Capital goods imports hit a record $146.4 billion, driven by semiconductors and industrial machinery. This is the trade figure sitting inside today’s GDP advance estimate… and it’s pulling the whole thing down.

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The last time the trade deficit was this wide, it was March 2025 — one month before Liberation Day tariffs were supposed to shrink it.

Source: U.S. Census Bureau / Bureau of Economic Analysis, U.S. International Trade in Goods and Services, Oct. 6, 2026
One number. Every morning.
— Jack Corbin

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