The U.S. trade deficit in November surged 94% month-on-month, with a significant expansion of the deficit with the European Union

In November, the U.S. trade deficit soared by 94.6% month-on-month to $56.8 billion, primarily due to a significant increase in the deficit with the European Union, which rose by $8.2 billion. Although the trade deficit had previously fallen to its lowest level since 2009, the impact of Trump's tariff policy is gradually becoming apparent. The cumulative trade deficit for the year reached $839.5 billion, an increase of approximately 4% year-on-year. The White House had previously set tariff rates based on the level of the trade deficit, and recently, the U.S. and Europe reached an agreement to set tariffs on most European goods at 15%