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.

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.

The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats.