WASHINGTON, DC – Today, the Joint Economic Committee released its analysis of the latest Monthly Trade Update based on information compiled from the Bureau of Economic Analysis, U.S. Census Bureau, Treasury Department, and the Bureau of Labor Statistics. The August trade deficit of $59.55 billion is 32 percent below the 12-month average and down from $78.2 billion in July. It is significantly lower than the peak of $136.42 billion in March 2025.  

Total imports ended the month at $340.38 billion, down $18.37 billion from July and 7 percent below the 12-month average. Total exports were up month-over-month as well, ending August at $280.83 billion, an increase of $230 million from July and 1 percent above the 12-month average. The U.S. continues to import the most from Mexico, Canada, China, Vietnam, and Taiwan. The largest export partners include Canada, Mexico, China, Netherlands and the United Kingdom. The deficit with China, though, has shrunk by almost 40 percent year-over-year, while deficits with Mexico, Vietnam, and Taiwan have all increased.

Notably, the average applied duty rate rising to 10.6 percent means that, on average, 10.6 cents in duties were calculated for each dollar of imports that entered U.S. consumption channels. In August 2025, the U.S. calculated $27.27 billion in import duties, which is 86.42 percent higher than the 12-month average. Over the 12 months through August 2025, the U.S. calculated $175.54 billion in import duties.

For the full update, with greater detail of the U.S.' exports, imports, duties and trading partners, visit https://www.jec.senate.gov/public/index.cfm/republicans/trade-update/. 

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