America's goods trade deficit grew 9% under tariff policy
As seen on the 24/7 Wall St. homepage on November 4, 2026.
Two years of tariff policy left the goods gap 9% wider, which undercuts the case for tariffs easing as a trade-balance victory and keeps import-cost pressure on retailers and manufacturers.
Tariffs were pitched as the fix for America’s trade deficit. Instead… Last 21 Months: –$2.19 trillion deficit in Goods. 21 Months Prior: –$2.01 trillion deficit in Goods. The deficit didn’t shrink. It increased 9%. https://t.co/FbATkD5z2J
- Replies12
- Reposts13
- Likes31
Continue ReadingShow less
Charlie Bilello posted a direct comparison on November 4, 2026: the goods trade deficit over the last 21 months widened to negative $2.19 trillion versus the 21 months before that.
That 9% widening matters because the core argument for tariffs was always that they would narrow the gap by making imports more expensive and domestic production more competitive. The data, as Bilello frames it, runs the other way.
Sponsored
For retailers and manufacturers, a wider goods deficit means sustained import-cost pressure has not unwound. Any investor thesis built on tariffs delivering trade-balance relief has to contend with this two-year track record.
The post had drawn over 8,000 impressions by the time of publication, a signal that the trade-deficit narrative is back in active circulation among market watchers heading into what comes next on trade policy.