Trade deficit soared 94% in November and was higher than a year ago, despite tariff efforts

Following a month where the trade deficit hit its lowest level since early 2009, it shot up to $56.8 billion, an increase of 94.6% from October. Of that gain, about one-third came with the European Union, where the goods deficit rose by $8.2 billion. The goods deficit with China decreased by about $1 billion to $13.9 billion. A framework agreement between the U.S. and the EU in August put the tariff rate at 15% on most European goods and sought to stabilize relations between the two sides. Clarification: The headline on this story was updated to clarify that it was the trade deficit that soared 94% in November.