Imports to the U.S. grew to a record high in 2025, leaving the trade deficit little changed despite steep Trump administration tariffs aimed at closing trade gaps. Goods purchased from overseas last year totalled $3.44 trillion, about 4% greater than in 2024, The Wall Street Journal’s Matt Grossman writes.

That brought the trade deficit in goods to a record $1.241 trillion, up from $1.215 trillion in 2024. Total imports of goods and services to the U.S. also grew about 5% to a record high, while total exports rose about 6%. This left the overall trade deficit for 2025 at $901.5 billion, down slightly from 2024.

U.S. imports in December rose by 3.6% to $357.6 billion, partly driven by more American purchases of digital equipment from overseas. Imports of computer accessories grew by $3.4 billion, and imports of telecommunications equipment increased by $1.3 billion.

December’s overall trade deficit surged to $70.3 billion, up 33% from $53 billion in November and continuing a climb from October. Outsize swings in international gold trading fueled much of December’s trend.

• The U.S. will eliminate tariffs on some Indonesian food and farm goods, but maintain a 19% duty on most products from the country, as part of a trade deal signed Thursday. (WSJ)
• Mexico surpassed Canada as the top market for U.S. exports in 2025, according to Commerce Department data. (WSJ)
• The U.S. economy is still expected to make a slow start to 2026 amid continued softness in the economy, according to a basket of monthly economic indicators. (WSJ)
• China’s economy has held up remarkably well against U.S. tariffs but continued resilience will need consumption to drive growth, rather than external demand, the IMF said. (WSJ)
• A.P. Moller-Maersk plans to increase westbound capacity by upsizing vessels on its West India-U.S. East Coast MECL service after the two countries reached a trade deal. (Journal of Commerce)

Deere said it has about $600 million in tariff expenses riding on the Supreme Court’s coming ruling on President Trump’s tariffs authority, as the farm-equipment maker raised its fiscal-year outlook and said demand in construction and small agriculture was recovering.

A little less than half of the $1.2 billion in tariff expenses Deere expects to pay this year are related to Trump’s use of the International Emergency Economic Powers Act, the Journal’s Bob Tita writes. A ruling from the court is expected soon on whether the 1977 law gives Trump unilateral authority to deploy tariffs without Congress’s approval. Several justices appeared skeptical during arguments.

Deere, which has struggled with an extended slowdown in the tractor business, said it sees small agriculture and turf and construction and forestry net sales each increasing 15% for the fiscal year, up from its prior forecast of 10% growth for both segments. It reiterated its outlook for production and precision agriculture net sales to be down 5% to 10%.

• Ranchers are reluctant to rebuild the U.S. cattle herd, which is at a 75-year low, despite record beef prices and consumer demand. (WSJ)
• The USDA said American farmers are expected to plant more soybeans and less corn this year than in 2025, though both harvests were expected to be the second-largest on record. (Reuters)

Global pallet supplier Brambles has used everything from GPS technology to drones to keep a better track of its blue-painted CHEP pallets. It is now trying out a more-comprehensive initiative in Chile, to provide data allowing customers renting the pallets to better manage inventory, save time, and even to predict demand, the Journal’s Stuart Condie writes.

The Australian company has put tags on all 2.6 million of its assets in the South American country, allowing them to be automatically read by cameras as they pass in and out of vehicles and premises. Brambles expects the data captured to cut the need for time-consuming declarations and audits. It should also speed up the collection and redistribution of pallets, and cut the number getting lost or damaged.

Brambles said 95% of its customers in Chile are using the tech. It should have enough data in nine months to be able to decide whether to move on its hopes of expanding this offering to the U.S.

• U.S. jobless claims fell to 206,000 in the week through Feb. 14, down from 229,000, the Labor Department said. (WSJ)
• The U.S. pending home sales index fell 0.8% on month to 70.9 in January, according to a National Association of Realtors report. (WSJ)
• The average rate on the standard 30-year fixed mortgage fell to 6.01% from 6.09% a week earlier, the lowest level in nearly three and a half years, according to a Freddie Mac survey. (WSJ)
• Walmart reported a 4.5% rise in quarterly U.S. comparable sales, with online sales jumping 27%, though the retailer posted lower annual sales than Amazon for the first time. (WSJ)
• Airbus said it would deliver fewer aircraft than expected this year because of significant shortages of Pratt & Whitney engines. (WSJ)
• Boeing signed deals for almost 100 jets worth over $30 billion with Vietnamese carriers during a U.S. visit by the head of Vietnam’s Communist Party, To Lam. (WSJ)
• Nissan is recalling over 300,000 Rogue SUVs over potential faulty throttle-body gears and engine-failure risks in certain models. (WSJ)
• India’s Reliance Industries plans to invest $110 billion to build large-scale data centers and offer AI services. (WSJ)
• Tata Group and OpenAI are teaming up to develop AI infrastructure in India. (WSJ)
• Danish authorities detained the containership Nora, which is under U.S. sanctions under its former name, Cerus, for links to Iran. (Lloyd’s List)
• Logistics giant DSV has started switching to DB Schenker’s Tango transport-management system following CargoWise’s change to its pricing model. (The Loadstar)
• Jeep maker Stellantis named former GM executive Marcelo Conti to lead purchasing and supplier quality for North America. (WardsAuto)
• DHL Group is expanding its dedicated cold-chain air-freight network to bolster its capabilities in healthcare logistics. (Air Cargo News)
• Sales of Class 8 heavy-duty trucks in the U.S. fell 24% in January from a year earlier to 12,287 units, Omdia Automotive data show. (Transport Topics)

The Dow Jones Risk Journal in New York on March 4 will include two discussions on trade issues: A panel on how to deal with evasion of export controls, sanctions and tariffs with Janet Labuda, head of trade and customs issues at Maersk Customs Services, Aiysha Hussain, partner at Mayer Brown, and Daniel Tannebaum, partner at Oliver Wyman.

Another panel will look at how to incorporate national security into trade compliance with speakers Kevin O’Connor, general counsel at Lockheed Martin, and Joseph Moreno, general counsel at SAP NS2.

Request a complimentary invitation here using the code COMPLIMENTARY. Attendance is limited, and all requests are subject to approval.

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.