U.S. Trade Deficit Hits Highest Level Since 2022

Vietnam reported a trade surplus of $2 billion in October, with exports rising 10.1% but imports growing faster at 13.6%. For the January-October period, exports increased by 14.9%, while imports were up 16.8%. Meanwhile, the U.S. trade deficit surged to $84.4 billion in September, the highest in 30 months, driven by a 3% rise in imports to a record $352.3 billion ahead of potential tariff increases under a future Donald Trump administration. Exports fell by 1.2%, reflecting strong domestic demand and businesses preparing for higher tariffs. Economists predict imports will continue to outpace exports in the short term due to robust consumer demand and investment in capital goods. The contrasting trade dynamics highlight different economic pressures faced by the two nations.