In 2022, the United States had a trade deficit of $948.1 billion. This means that the United States imported more goods and services than it exported. The largest deficit was with China, which was $382.9 billion. The second largest deficit was with Mexico, which was $81.6 billion.

There are a number of factors that can contribute to a country's trade balance. These factors include:

• The relative prices of goods and services in different countries.
• The exchange rate between different currencies.
• The level of tariffs and other trade barriers.
• The level of economic growth in different countries.

The trade balance can have a number of implications for a country's economy. A trade surplus can lead to economic growth, as it means that the country is selling more goods and services than it is buying. A trade deficit can lead to economic slowdown, as it means that the country is buying more goods and services than it is selling.

The trade balance is also a factor in a country's balance of payments, which is a record of all the economic transactions between a country and the rest of the world. A trade deficit can lead to a country's balance of payments being in deficit.