The deficit decrease is largely a response to last year, when trade and the deficit swelled in anticipation of President Trump’s April 2 “Liberation Day” tariffs.

The trade court ruled 2-1 that Trump had unlawfully used Section 122 of the Trade Act to enact a new blanket duty on products entering the United States, finding that Trump failed to identify a "balance-of-payments deficit" that would allow him to wield the trade law's broad tariff-making powers.

Facts around the balance of imports and exports under President Trump and his tariffs can seem impossibly contradictory.

"Pakistan reported a 46?month high trade deficit," noted Topline Securities. During the first ten months of FY26, the trade deficit clocked in at $32 billion, up 20% year?on?year.

Vietnam's consumer prices rose 5.46 per cent in April from the ‌same month last year, government data showed today, accelerating from 4.65 per cent in