US Trade Deficit by Country 2026

A trade deficit – also known as a negative balance of trade – is an economic term related to international trade. A trade deficit, in short, means that a nation’s imports exceed its exports. In other words, a country with a trade deficit spends more money in a year than it receives from its exports. Many nations around the world have trade deficits, including the United Kingdom, Mexico, Brazil, and the United States.

The United States has the largest trade deficit in the world. In 2023, the trade deficit of this nation was $773.4 billion. While the country brought in $3,826.9 billion in imports, the amount of exports was just $3,053.5 billion, (BEA, 2024). The largest exports of the United States were cars, food, and commercial aircraft. The largest imports were cell phones, oil, and cars.

The largest deficit in goods in the United States is with China. In fact, over one third of the trade deficit – or $270.4 billion – is because of imports from China. The main US imports from China include clothing, machinery, and electronics.

The United States also has a significant trade deficit with Mexico. This deficit is smaller than that of China at just over $157 billion. The U.S. has imported $466 billion worth of goods from Mexico in 2024, including vehicles and auto parts.

The US has the third largest trade deficit with Vietnam at just over $113 billion. The primary categories of imported goods include machinery, mechanical appliances, textiles, and footwear.

The fourth largest US trade deficit is with Ireland at $80.5 billion and almost $96 billion in total imports from the emerald island. A trade deficit of $76.4 billion with Germany is the fifth largest. In 2024, the U.S. imported almost $146.7 billion, primarily in auto parts and vehicles, medicine, and machinery.

The sixth largest trade deficit is with Taiwan at just over $67 billion and $106 billion in total imports in 2024. The United States also has a trade deficit of $62.6 billion with Japan. Vehicles and industrial supplies are among the primary of the $135.8 billion in US imports from Japan.

The eighth largest US trade deficit at just over $60 billion is with South Korea, a country from which the US imported $120 billion worth of goods in 2024. The U.S. also has a $54.8 billion trade deficit with Canada. While the U.S. exports vehicles, petroleum, and auto parts, it buys more crude oil and gas from Canada at a total of $377 billion worth of imports.

Rounding out the top ten countries with the largest US trade deficit is Thailand at $41.5 billion as of 2024 – the year in which a total of about $57.7 billion worth of imports came in from Thailand. The top U.S. imports from Thailand are electronics and computer parts, auto parts, natural rubber, and processed seafood.