The final U.S. trade deficit, due to be released tomorrow, is expected by economists to be unchanged on a month earlier at $45 billion. That implies a $20 billion services surplus after last week’s $65 billion goods deficit, the largest since March 2015. So far the December trade deficit has not attracted the ire of President Trump – it may yet do so. The change in goods imports is the biggest driver of the deficit overall, explaining 58% of the monthly deficit change over the past three years. After a 5% growth in the value of imports in December, Panjiva data shows seaborne shipments m...
Copyright © 2025 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.




