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US Foreign Trade Deficit Sharply Dips in April as Trump Tariff Uncertainty Reigns
Deficits in international trade in goods and services drop to $61.6 billion in April, down from $138.3 billion in March
The monthly increase in U.S. foreign trade deficit slowed in April amid raging uncertainties over the final shape President Donald Trump’s tariffs and supply chain disruptions. The imbalance in U.S. international trade in goods and services decreased to $61.6 billion in April, the Bureau of Economic Analysis reported. There was a fall of $76.7 billion from $138.3 billion in March.
Compared to April 2025, the deficit in April 2024 was $73.1 billion which was up from $71.1 billion in April 2023.
The country’s achievement of 55.5% reduction in deficit in April 2025 was made possible by 16.1% fall in imports to $351 billion from the previous month. Exports, meanwhile, increased 3% to $289.6 billion.
The press release also said:
The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $75.2 billion to $87.4 billion and an increase in the services surplus of $1.5 billion to $25.8 billion.
Year-to-date, the goods and services deficit increased $179.3 billion, or 65.7 percent, from the same period in 2024. Exports increased $58.4 billion or 5.5 percent. Imports increased $237.8 billion or 17.8 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $22.9 billion to $107.3 billion for the three months ending in April. Average exports increased $5.6 billion to $283.0 billion in April. Average imports decreased $17.2 billion to $390.4 billion in April. Year-over-year, the average goods and services deficit increased $38.7 billion from the three months ending in April 2024.
Average exports increased $15.9 billion from April 2024, while average imports rose $54.6 billion from the previous year. Exports of goods went up $6.2 billion to $190.5 billion in April. Exports of goods on a Census basis increased $6.3 billion and industrial supplies and materials spiked $10.4 billion. On the other hand, finished metal shapes increased $8.1 billion. Crude oil exports decreased $1.1 billion and capital goods increased $1.0 billion. Computers rose $1 billion, while automotive vehicles, parts, and engines decreased $3.3 billion. Passenger cars decreased $1.7 billion. Trucks, buses, and special purpose vehicles decreased $1.0 billion.
Exports of services increased $2.1 billion to $98.9 billion in April. Of them, travel increased $1.4 billion.
Imports decrease
Imports of goods decreased $68.9 billion to $277.9 billion in April. Consumer goods imports decreased $33 billion while pharmaceutical preparations decreased $26 billion. The value of cell phones and other household goods imports decreased $3.5 billion. Import of automotive vehicles, parts, and engines decreased $8.3 billion while passenger cars decreased $6.4 billion. Trucks, buses, and special purpose vehicles imports decreased $1.1 billion.
Meanwhile, the imports of services increased $0.5 billion to $73.1 billion in April. Among them, import of travel services increased $0.3 billion. Other business services increased $0.2 billion. Transport decreased $0.5 billion.
The country maintained a positive balance of trade with Hong Kong ($6.9 billion), Netherlands ($4.8 billion), United Kingdom ($4.3 billion), Switzerland ($3.5 billion), South and Central America ($3.3 billion), Australia ($1.4 billion), Singapore ($1.4 billion), Brazil ($1 billion), Saudi Arabia ($900 million), and Belgium ($9 million).
Deficits were recorded with China ($19.7 billion), European Union ($17.9 billion), Vietnam ($14.5 billion), Mexico ($13.5 billion billion), Taiwan ($9.7 billion billion), Ireland ($9.5 billlon billion), Japan ($5.8 billion), Germany ($5.4 billion), India ($5.3 billion), South Korea ($3.3 billion), Italy ($3.2 billion), Canada ($2.6 billion), Malaysia ($2.3 billion), France ($1.9 billion), and Israel ($900 million).
The sharpest fall in deficit was with Ireland at $19.9 billion to $9.5 billion in April. Exports to Ireland increased less than $0.1 billion to $1.4 billion and imports decreased $19.9 billion to $10.9 billion.
The balance with Switzerland shifted from a deficit of $15.4 billion in March to a surplus of $3.5 billion in April. Exports increased $5.6 billion to $9.1 billion and imports decreased $13.4 billion to $5.6 billion.
Source: BEA press release
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