US imports in record decline

US imports of goods fell by 20% in April 2025, the largest monthly decline ever recorded, according to visualcapitalist.com.

Overall, imports of goods fell to $275.9 billion in April, from $344.6 billion in March, as tariffs imposed by the Trump administration hit US trade. So far, the cost to companies is estimated at $34 billion, with the consumer goods and auto sectors among the hardest hit.

The cited source shows that, according to data from the US Census Bureau, imports of consumer goods by the United States fell to $69.9 billion in April, from $102.9 billion, almost a third lower than the previous month (-32%).

Pharmaceuticals played a key role in this decline, with US imports of the sector falling by $26 billion in April alone.

The data shows a 31% decline in the consumables and industrial materials sector, to $52 billion, and a 20% decline in automobile imports, to $33.2 billion, with notable declines in purchases from Canada. Next came imports of food, feed and beverages, which fell by 4% to $18.5 billion, and capital goods (excluding automobiles), which fell by 3% to $90.6 billion. In the "other goods” segment, the decline was 3% to $11.7 billion.

While the US trade deficit hit a record high in March, before Trump's tariffs were announced, it shrank by 55% in April, reaching levels seen in September 2023. The question is whether this trend will continue. With Trump having suspended tariffs on China and struck bilateral trade deals, imports could gradually rise again.

However, uncertainty is still felt among US companies - several big names, including Apple and Ford, have sharply reduced their profit prospects due to trade developments.

• Emmanuel Macron: "Tariffs are "killing' poor and emerging countries"

The trade war imposed by Donald Trump is an "aberration" at "this moment in the life of the planet" because it is "killing" poor countries, French President Emmanuel Macron said Monday at a UN conference on financing for development, AFP reports, according to Agerpres.

"Tariffs are killing poor and emerging countries!" the French president insisted, referring to the American tariffs that threaten, for example, Vietnam or Madagascar. The official from Paris stressed: "Let's be clear, we are killing them under the pretext of rebalancing trade, when, in fact, the main imbalances are between China and the United States, the main culprits of this scandal."

Macron assessed that it was necessary to "rethink" the World Trade Organization (WTO) to "align it with our objectives in the fight against inequalities" and with "our climate objectives."

"But we must restore freedom, equity in international trade, much more than barriers and tariffs, which are designed by the most powerful and which are often used as instruments of blackmail, not as instruments of rebalancing," the French president also stated.

• US Treasury Secretary: "Higher tariffs after July 9, even for countries negotiating”

US Treasury Secretary Scott Bessent warned on Monday that many countries could face significantly higher tariffs starting July 9, even if they negotiate "in good faith”. Any extension of the deadline would depend solely on President Donald Trump's decision, the official said, quoted by Reuters, according to news.ro.

Bessent, who has previously suggested the possibility of extensions for bilateral talks, told Bloomberg TV that he expects "an avalanche” of trade deals in the days leading up to the July 9 deadline. After that date, the 10% US tariffs temporarily imposed could return to the levels announced by Trump on April 2 - between 11% and 50%.

"We have countries negotiating fairly, but they need to understand that if we fail to reach agreements because of delays or refusals, tariffs could go back to April levels. I hope that won't be necessary,” Bessent said.

The statement comes amid an escalation of the Trump administration's "reciprocal” trade policy, under which Washington intends to penalize countries that impose tariffs or restrictions on American goods. The countries concerned have just a few days to reach bilateral agreements before the new tariffs automatically go into effect.

It is worth noting that a trade deal between the United Kingdom and the United States came into effect on Monday, giving British cars exported to America preferential tariff treatment, while questions remain over metal exports, according to CNBC.

In May, Britain became the first country to negotiate a trade deal with the United States after President Trump imposed "reciprocal” tariffs. The terms of the new agreement are effective from June 30.

Under the agreement, a 10% tariff is applied to British goods imported into the United States, including the first 100,000 cars exported annually. Additional vehicles will be taxed at a higher rate of 25%.

According to data published by the Society of Motor Manufacturers and Traders (SMMT), the UK exported around 102,000 cars to the US in 2024. Mike Hawes, the SMMT's director general, welcomed the agreement and believes that it "ends the punitive tariffs that have crippled exports to the US and put flagship companies in danger”.

The US has a trade surplus with the UK, but cars remain the main British export to the US market. In 2024, 27.4% of all British car exports were destined for the US.

The new tariff regime (10-25%) is considerably more favourable than the general tariff of 50% applied to other US trading partners.