By Andrew Moran The U.S. trade deficit narrowed sharply in October 2025, falling to its lowest level in 16 years, according to new data from the Bureau of Economic Analysis released on Jan. 8. The gap in goods and services declined by 39 percent from the previous month to $29.4 billion—the smallest monthly deficit since June […]
Tag: Tariffs
A tariff is a tax on imports or exports between sovereign states. It is a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry. Traditionally, states have used them as a source of income.
