The White House highlighted the impact of recent trade agreements, including with India, in reshaping global trade dynamics and reducing US deficits. Describing the past year as “Liberation Day,” the White House emphasized the transformation in the US economy towards resilience and competitiveness. White House spokesman Kush Desai praised the outcomes of this shift, citing over 20 new trade deals, significant manufacturing investments, reduced drug prices, and lower goods trade deficits.
The administration reported a 24% decrease in the US goods trade deficit from April 2025 to February 2026 compared to the previous year. Notably, bilateral trade balances with the majority of trading partners showed improvement. The statement highlighted a 32% drop in the goods trade deficit with China over the past year and a 46% decrease from April 2025 to January 2026.
Furthermore, the White House noted a substantial decline in the trade deficit with the European Union, down by nearly 40% during the same period. It also mentioned a newfound goods surplus with Switzerland, marking the first surplus since 2012. Foreign producers were reported to be sharing the burden of tariff costs, with export prices to the US falling while remaining stable for other countries.
The White House underscored the signing of over 20 trade agreements with major partners like the European Union, Japan, India, Vietnam, and Argentina. These agreements, covering more than half of global GDP, aim to reduce non-tariff barriers and expand markets for US agricultural, energy, and industrial goods. Manufacturing has experienced a resurgence, with significant investments leading to the reshoring of American industry, creating jobs and boosting production.
Shipments of core capital goods reached record levels in 2025, and manufacturing activity saw expansion in early 2026 after more than two years of stagnation. The US surpassed Japan in crude steel production in 2025 for the first time since 1999, becoming the world’s third-largest steel producer. Notably, American workers have seen wage gains, with private sector employees experiencing real wage increases, particularly in manufacturing, construction, and mining sectors.
