The
trade deficit
grew to $131.4 billion in January, the worst monthly deficit on record.
Exports grew by $3.3 billion (+1.2%) while imports grew by $36.6 billion (+10%).
Over the last 30+ years, there has only been 2 occasions where imports grew by 10%+ (July 2020 and January)
Total trade grew to a record $671 billion (+6.3% for the month & +14.7% for the year)
Biggest trade deficits by country:
1) China
2) Switzerland
3) Mexico
Biggest trading partners (imports + exports):
1) Mexico ($69.6 billion)
2) Canada ($65.3 billion)
3) China ($51.5 billion)
Finished metals was the biggest contributor to the change in imports (+$20 billion for the month)