WASHINGTON -- The U.S. trade deficit in goods reached a record high of $1.21 trillion in 2024, up 50% from 2017, government data shows, bringing into question whether President Donald Trump's tariffs can achieve one of their main stated policy goals.
Trade
U.S. trade deficit widens 50% since first Trump term despite tariffs
Surge of imports since 2017 raises doubts that new duties will have much impact
U.S. President Donald Trump has cited trade deficits as a reason for raising tariffs. © AP
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