A new report shows a much lower U.S. trade deficit as tariffs restricted both imports and exports, but some experts say the effects may be temporary.

The United States’ trade balance, a key economic indicator, has recorded a significant improvement, according to the latest data. The actual figure for the period under review stood at a deficit of $29.4 billion, a figure that outperformed both the forecast and the previous numbers.

At the same time, Canada appears to be finding new markets for its goods. Exports to countries outside the U.S. rose 15.6 per cent in October to a record high, Statscan said, led by higher shipments of gold to the United Kingdom and crude oil to China.

Canada recorded a smaller-than-expected trade deficit of C$583 million ($419 million) in October, when imports increased at a greater pace than exports, official data indicated on Thursday.

Imports decreased 3.2%, reflecting declines in inbound shipments of medication and nonmonetary gold. Imports of pharmaceutical preparations dropped to the lowest since July 2022. The value of all US goods and services exports rose 2.6% in October. The figures aren’t adjusted for inflation.

France’s trade deficit widened to €4.2B in December 2025 from a revised €3.5B in November, in line with expectations. Imports rose 2% M/M to €56.4B, led by agricultural products, mechanical equipment,

India has been in talks with ASEAN to re-negotiate the terms of the trade agreement; however, India and ASEAN missed the end of 2025 deadline. However, in October last year, ASEAN and China signed an upgraded free-trade agreement.

The visit comes as South Korea’s trade relationship with China undergoes a structural turning point. South Korea posted a trade surplus of USD28.97 billion with China in 2019, but recorded a deficit of USD6.83 billion in 2024, and the trade deficit continued for the third consecutive year in 2025, according to South Korea’s customs data.