The total value of U.S. trade in January was up year-on-year. Still, according to the latest U.S. foreign trade data, the trade deficit in goods between the United States and China was down by $900 million month-on-month in January. The United States is China’s top trade surplus country, and lower exports to the United States will weigh on China’s economy.
The United States was one of the few countries to see month-on-month and year-over-year increases in imports and exports in January 2023. Its exports rose 3.4 percent in January to $257.5 billion, while imports rose 3.0 percent to $325.8 billion, according to the Department of Commerce’s news release on March 8. U.S. exports rose 13.3 percent in January 2023 from a year earlier, while imports rose 3.5 percent from a year earlier. The figures are seasonally adjusted.
