Overview
- The U.S. trade deficit narrowed 10.9% to $52.8 billion in September, the smallest since mid-2020, with exports up 3.0% to $289.3 billion and imports up 0.6% to $342.1 billion.
- Goods exports rose 4.9% to $187.6 billion, led by record consumer-goods shipments, while auto-related imports fell to their lowest level since November 2022.
- The federal budget deficit fell to $173 billion in November from $367 billion a year earlier, as receipts hit a record $336 billion for the month.
- Customs duties totaled $30.76 billion in November and $62.11 billion over the first two months of fiscal 2026, lifting revenues in the wake of sweeping tariff increases.
- A 43-day government shutdown delayed data releases and some payments, and economists warn the September trade improvement was flattered by a jump in gold exports rather than a durable shift.