Fact-check · Sep 4, 2026 · Donald Trump
“We've cut our deficit way down. We've cut our trade deficit way down, tremendously down.”
TRUE
What the record shows
Year-to-date trade deficit (Jan-July 2026) down 29.6% vs same period 2025 per Census Bureau/BEA. However, full-year 2025 deficit ($901.5B) was nearly flat vs 2024 ($903.5B). July 2026 deficit widened to $88.6B, highest in 16 months.
Sources
- U.S. International Trade in Goods and Services, April 2026 | U.S. Bureau of Economic Analysis (BEA)
- Trade Gap Tightens in April, Ends April 7 Percent Below 12-Month Average - Trade Gap Tightens in April, Ends April 7 Percent Below 12-Month Average - U.S. Congress Joint Economic Committee
- International Trade in Goods and Services | U.S. Bureau of Economic Analysis (BEA)
- U.S. International Trade in Goods and Services, February 2026 | U.S. Bureau of Economic Analysis (BEA)
- U.S. International Trade in Goods and Services, March 2026 | U.S. Bureau of Economic Analysis (BEA)
- U.S. International Trade in Goods and Services, June 2026 | U.S. Bureau of Economic Analysis (BEA)
From: President Trump Signs Executive Orders, Sep. 4, 2026
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