The U.S. Census Bureau and the U.S. Bureau of Economic Analysis said today that the goods and services deficit was $131.4 billion in January, up $33.3 billion from $98.1 billion in December, revised.

This was the highest on record, and is the beginning of a rerun of the previous Trump Administration economic mishaps.

January exports were $269.8 billion, $3.3 billion more than December exports. January imports were $401.2 billion, $36.6 billion more than December imports.

The January increase in the goods and services deficit reflected an increase in the goods deficit of $33.5 billion to $156.8 billion and an increase in the services surplus of $0.2 billion to $25.4 billion.

Year-over-year, the goods and services deficit under Trump increased $64.5 billion, or 96.5 percent, from January 2024 under Biden. Exports increased $10.6 billion or 4.1%. Imports increased $75.2 billion or 23.1%.