The Trump administration is celebrating a policy victory on Thursday after reports broke that the nation's trade deficit plunged to its lowest level since June 2020 in September.

The figure fell to a deficit of $52 billion and came in below analyst expectations of $59 billion, according to CNBC. The figure marks a significant win for President Donald Trump, who has imposed tariffs on nearly every nation in the world and renegotiated trade deals with key partners in a bid to lower the deficit even further.

Trump in 2016, defied Republican free-trade orthodoxy by supporting the imposition of tariffs, a position he has maintained throughout his political career. His second term saw him announce "Liberation Day" in April, when he imposed a baseline tariff on every nation and what he called "reciprocal tariffs" on countries with the most barriers to American firms.

Despite the tumult in the stock market that followed, the administration has largely held firm to its original plan and Trump has since brokered trade agreements with the UK, EU, and much of the Pacific Rim.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.