Trade · 2025-04-22
The U.S. lost two trillion dollars annually on trade in 2024
False
Trump characterized the annual trade deficit as a loss of about $2 trillion.
What the evidence shows
The 2024 goods-and-services trade deficit was roughly $918 billion; a trade deficit also is not simply money lost because imports deliver goods and services.
What happened next
Fact-check reflects evidence available at the time of the cited analysis; subsequent outcomes may require separate review.
Assessment notes
Editorial paraphrase, not a verbatim quotation. Date identifies the reported statement or relevant period; see the linked fact-check for context. Verdict applies to the narrowly stated claim.