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. In September, the United States ran a total trade deficit of $52.83 billion, down by $6.44 billion from August which ended with a deficit of $59.26 billion. The September trade deficit is 38 percent below the 12-month average and the lowest since June 2020. In total, over the 12 months through September 2025, the U.S. ran a trade deficit of $1.02 trillion.

Over the 12 months through September 2025, the U.S. had the largest goods trade deficits with China (-$238.98 billion), Mexico (-$192.23 billion), and Vietnam (-$162.42 billion). Over the same period, the U.S. had the largest goods trade surpluses with the Netherlands ($59.02 billion), Hong Kong ($25.62 billion), and the United Kingdom ($21.69 billion).

The most exported goods by value were civilian aircraft, engines, equipment, and parts; pharmaceutical preparations; and crude oil. Together, these goods accounted for 17 percent of the value of all exported goods over those 12 months. The most imported goods by value were pharmaceutical preparations; passenger cars, new and used; and computers. Together, these goods accounted for 20 percent of the value of all imported goods over those 12 months.

In September, the U.S. calculated $29.54 billion in import duties, which is 79 percent higher than the 12-month average. Overall, in FY2025, the U.S. calculated $198.32 billion in import duties, the highest ever in a fiscal year for the nation.

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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