在 Bloomberg 对经济学家的调查中，12月逆差比除一项外的所有预估都更大。这反映出进口增加 3.6%，其中包括电脑配件和机动车辆；同时商品与服务出口下降 1.7%，主要因为对外黄金出货减少。按用于实质 GDP 核算、经通膨调整的商品口径，12月贸易逆差扩大至 $97.1 billion，为 7月 以来最高；Atlanta Fed GDPNow 预测估计第四季增长为 3%，并显示净出口对增长几乎没有贡献。
报告称，受 AI 投资需求带动，2025 年美国企业进口的电脑及配件比 2024 年多近 $145 billion。按国别看，美国对中国的贸易逆差收窄至约 $202 billion，为 20 多年来最小；而对墨西哥与越南的逆差扩大至纪录高位。与台湾的年度逆差扩大至创纪录的 $146.8 billion，与加拿大的年度逆差收窄，且 Supreme Court 最早可能在 Friday 就关税授权作出裁决。
In December, the US goods and services trade deficit widened to $70.3 billion, and the full-year 2025 deficit was $901.5 billion, still one of the largest annual gaps in data back to 1960. The article says the 2025 gap narrowed slightly to $901.5 billion. Oren Klachkin of Nationwide Financial said the trade deficit “barely budged in 2025” after tariff-related volatility.
The December deficit was wider than all but one estimate in a Bloomberg survey of economists. It reflected a 3.6% increase in imports, including computer accessories and motor vehicles, and a 1.7% decline in exports of goods and services, largely due to fewer outbound gold shipments. In inflation-adjusted merchandise terms used for real GDP accounting, the trade deficit widened to $97.1 billion in December, the highest since July; the Atlanta Fed GDPNow forecast estimated fourth-quarter growth at 3% and indicated net exports would barely add to growth.
The report says US companies imported nearly $145 billion more in computers and accessories in 2025 than in 2024, linked to AI investment demand. By country, the US trade shortfall with China narrowed to about $202 billion, the smallest in more than 20 years, while deficits with Mexico and Vietnam widened to record levels. The annual gap with Taiwan widened to a record $146.8 billion, the annual shortfall with Canada narrowed, and the Supreme Court could issue a tariff-authority ruling as soon as Friday.