The U.S. ended 2024 with the second-largest trade deficit on record — and China and Mexico were the countries that benefited most from sending goods to America. Canada? Not so much.

The 2024 deficit was a record $1.2 trillion, marking the fourth consecutive trade deficit above $1 trillion and the sixth increase in the last eight years.

Data released Wednesday morning by the Commerce Department showed that U.S. imports of goods and services grew 6.6 percent to a record $4.1 trillion, as Americans bought large amounts of auto parts, weight-loss drugs, computers and food from other countries.

President Donald Trump has repeatedly criticized the nation’s trade deficit, which the Commerce Department reported Wednesday reached a new record high.

The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats, which might have prompted businesses to rush purchases of foreign-made goods like finished metals and computers.

The U.S. trade deficit surged in December as imports hit a record high, driven by businesses rushing to secure foreign-made goods ahead of potential tariffs. The deficit jumped 24.7% to $98.4 billion,