Oregon Slides Into a Trade Deficit for the First Time in Years as Trump’s Trade War Drives Exports Down
Oregon, which imported more goods than it exported by value last year, is particularly vulnerable to President Donald Trump’s Tariff Trade War.
Effect of the Trump Trade War On Oregon
In the midst of Trump’s so-called trade war, Oregon exports declined by $5.9 billion in 2025, a 17% drop.
Source: Business Oregon economist blog on 2025 Oregon trade using U.S. Census Bureau Foreign Trade Division data
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At the same time, federal trade data show that Oregon’s goods imports exceeded its exports, leading to a goods trade deficit despite overall growth in US goods exports.
Although the Trump administration hopes tariffs will eventually bring more manufacturing jobs back to the US, they have, for now, undercut domestic manufacturing. The Supreme Court overturned Trump’s tariffs last month.
After Trump responded to the ruling by imposing new tariffs, Oregon sued, arguing the tariffs would raise prices and hurt the economy.
The litigation adds more uncertainty to the economic landscape, as Oregon is among the most trade-dependent states in the nation, selling electronics (accounting for more than $14 billion in exports last year, about half of all the state’s exports), grains, fruits, wine, timber, and many other products to customers all over the world.
These were Oregon’s biggest foreign markets going into the trade shock:
| Market | 2024 Oregon goods exports | Why it matters now |
|---|---|---|
| Mexico | $6.3 billion / 18% of state exports | Largest single foreign market for Oregon goods |
| China | $5.9 billion | Big exposure point in any tariff retaliation cycle |
| Malaysia | $4.7 billion | Important for electronics and supply chain ties |
| Canada | $3.3 billion | One of Oregon’s core North American buyers |
| Vietnam | $2.7 billion | Shows Oregon’s deep Pacific trade exposure |
The electronics industry, specifically computer chips, struggled last year. Intel, the state’s largest corporate employer, saw sales fall sharply in 2022 and 2023, and 6,000 Oregon jobs have been eliminated since the summer of 2024.
Intel’s annual sales were flat last year. The company is transitioning to a new-generation manufacturing process (18A), but mass production only began at the end of last year.
Sales of wood products, vegetables, metals, fruit, and prepared vegetables also fell significantly in 2025. There were some gains in a few categories, but Oregon imports rose 9% last year, twice the national rate.
Source: Business Oregon economist blog on 2025 Oregon trade using U.S. Census Bureau Foreign Trade Division data
Dailytidings.com
Oregon Balance Of Trade Shows Deficit
Federal trade data show Oregon’s goods imports exceeded its goods exports in 2025 for the first time since at least 2008, flipping the state into a goods trade deficit even as US goods exports grew overall – setting up a second part about why Oregon diverged from the national trade picture.
The data shows that the value of goods exported from Oregon fell by $5.8 billion (17.3%), while imports into Oregon jumped by 9%. By value, the state imported more goods than it exported, leading to a trade deficit.
In 2025, exports increased by $199.8 billion (6.2%) while imports increased by $197.8 billion (4.8%), narrowing the trade deficit marginally.