{"id":317617,"date":"2026-02-17T13:34:51","date_gmt":"2026-02-17T12:34:51","guid":{"rendered":"https:\/\/legrandcontinent.eu\/fr\/?p=317617"},"modified":"2026-02-17T17:09:09","modified_gmt":"2026-02-17T16:09:09","slug":"le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme","status":"publish","type":"post","link":"https:\/\/legrandcontinent.eu\/fr\/2026\/02\/17\/le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme\/","title":{"rendered":"Le redressement des comptes ext\u00e9rieurs am\u00e9ricains arrive-t-il \u00e0 son terme&#160;?"},"content":{"rendered":"\n<p>La perspective de la mise en place de droits de douane par l\u2019administration r\u00e9publicaine avait entra\u00een\u00e9 une hausse consid\u00e9rable des importations au d\u00e9but de l\u2019ann\u00e9e 2025.&nbsp;<\/p>\n\n\n\n<p>Les importateurs am\u00e9ricains <a href=\"https:\/\/legrandcontinent.eu\/fr\/2024\/12\/31\/pourquoi-le-champagne-est-il-de-plus-en-plus-consomme-hors-de-france\/\">ont ainsi constitu\u00e9 des stocks<\/a> afin d\u2019\u00e9viter de payer des taxes suppl\u00e9mentaires ou, du moins, de se donner davantage de temps pour r\u00e9organiser leurs cha\u00eenes d\u2019approvisionnement.<\/p>\n\n\n\n<p>Ce \u00ab&#160;front-loading&#160;\u00bb avait creus\u00e9 de fa\u00e7on importante le d\u00e9ficit ext\u00e9rieur am\u00e9ricain.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Il avait atteint 136,4 milliards de dollars en mars 2025, soit plus du double par rapport \u00e0 l\u2019ann\u00e9e pr\u00e9c\u00e9dente (66,3 milliards).<\/li>\n\n\n\n<li>Celui-ci s\u2019est par la suite consid\u00e9rablement r\u00e9duit en raison d\u2019une hausse des exportations, boost\u00e9es par un dollar faible, et la baisse significative des importations.<\/li>\n\n\n\n<li>En octobre, le d\u00e9ficit ext\u00e9rieur am\u00e9ricain n\u2019\u00e9tait plus que de 29,2 milliards de dollars, soit bien en de\u00e7\u00e0 des 70 milliards mensuels moyens enregistr\u00e9s entre janvier 2023 et d\u00e9cembre 2024.<\/li>\n<\/ul>\n\n\n\n<div class=\"iframe-container wp-block-image wp-block-image-medium  iframe-dw\">\n\t<div>\n\t\t<iframe class=\"absolute w-full h-full pin-t pin-l\" title=\"titolo\" aria-label=\"Interactive line chart\" src=\"\/\/datawrapper.dwcdn.net\/s2qd1\" scrolling=\"no\" frameborder=\"0\"><\/iframe>\n\t<\/div>\n<\/div>\n\n\n\n<p>Le pr\u00e9sident am\u00e9ricain semblait alors en passe de parvenir \u00e0 r\u00e9\u00e9quilibrer les \u00e9changes ext\u00e9rieurs du pays gr\u00e2ce \u00e0 l\u2019imposition de droits de douanes massifs. Mais les chiffres du mois de novembre publi\u00e9s par le Bureau of Economic Analysis fin janvier viennent nuancer cet espoir&nbsp;<span class='whitespace-nowrap'><span id='easy-footnote-1-317617' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/legrandcontinent.eu\/fr\/2026\/02\/17\/le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme\/#easy-footnote-bottom-1-317617' title='&lt;a href=&quot;https:\/\/www.census.gov\/foreign-trade\/Press-Release\/current_press_release\/ft900.pdf&quot;&gt;U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES, NOVEMBER 2025&lt;\/a&gt;, U.S. Bureau of Economic Analysis, 29 janvier 2026.'><sup>1<\/sup><\/a><\/span><\/span>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ceux-ci indiquent une progression des importations et un recul de 10 milliards de dollars des exportations en glissement annuel, ramenant presque le d\u00e9ficit \u00e0 son niveau pr\u00e9-Trump, soit 57 milliards.<\/li>\n\n\n\n<li>Ces chiffres, qui ne concernent que le mois de novembre, doivent \u00eatre pris avec pr\u00e9caution. Ils pourraient n\u00e9anmoins amorcer le d\u00e9but d\u2019une tendance plus durable.<\/li>\n\n\n\n<li>Les effets du stockage massif r\u00e9alis\u00e9 d\u00e9but 2025 pourraient notamment commencer \u00e0 s\u2019estomper.<\/li>\n<\/ul>\n\n\n\n<p>Parall\u00e8lement, l\u2019\u00c9tat f\u00e9d\u00e9ral a enregistr\u00e9 un bond consid\u00e9rable des recettes douani\u00e8res.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Alors que ceux-ci \u00e9taient en moyenne de 7 milliards de dollars par mois en 2023-2024, ils ont bondi pour atteindre 33,1 milliards en octobre \u2014 soit plus de 1&#160;% du PIB.<\/li>\n<\/ul>\n\n\n\n<div class=\"iframe-container wp-block-image wp-block-image-medium  iframe-dw\">\n\t<div>\n\t\t<iframe class=\"absolute w-full h-full pin-t pin-l\" title=\"titolo\" aria-label=\"Interactive line chart\" src=\"\/\/datawrapper.dwcdn.net\/MkXJi\" scrolling=\"no\" frameborder=\"0\"><\/iframe>\n\t<\/div>\n<\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Si les tarifs douaniers g\u00e9n\u00e8rent des profits pour le gouvernement, selon les estimations de la Federal Reserve Bank de New York, 90&#160;% sont pay\u00e9s par les consommateurs et les entreprises am\u00e9ricaines, et non par les exportateurs \u00e9trangers, comme Trump le r\u00e9p\u00e8te fr\u00e9quemment&nbsp;<span class='whitespace-nowrap'><span id='easy-footnote-2-317617' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/legrandcontinent.eu\/fr\/2026\/02\/17\/le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme\/#easy-footnote-bottom-2-317617' title='Mary Amiti, Chris Flanagan, Sebastian Heise et David E. Weinstein, &lt;a href=&quot;https:\/\/libertystreeteconomics.newyorkfed.org\/2026\/02\/who-is-paying-for-the-2025-u-s-tariffs\/&quot;&gt;Who Is Paying for the 2025 U.S. Tariffs&amp;#160;?&lt;\/a&gt;, Federal Reserve Bank of New York, 12 f\u00e9vrier 2026.'><sup>2<\/sup><\/a><\/span><\/span>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Selon les derniers chiffres, le d\u00e9ficit commercial am\u00e9ricain, en baisse l\u2019an dernier sous l\u2019effet des mesures protectionnistes de l\u2019administration Trump, a de nouveau augment\u00e9 en novembre.<\/p>\n<p>Si ces donn\u00e9es doivent \u00eatre prises avec pr\u00e9caution, elles pourraient n\u00e9anmoins marquer le d\u00e9but d&rsquo;une tendance plus durable. <\/p>\n","protected":false},"author":2622,"featured_media":317616,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"templates\/post-briefings.php","format":"standard","meta":{"_acf_changed":false,"_trash_the_other_posts":false,"footnotes":""},"categories":[3468],"tags":[],"staff":[4180],"editorial_format":[],"serie":[],"audience":[],"geo":[525],"class_list":["post-317617","post","type-post","status-publish","format-standard","hentry","category-donnees-qui-changent-la-donne","staff-guillaume-duval","geo-ameriques"],"acf":{"open_in_webview":false,"accent":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Le redressement des comptes ext\u00e9rieurs am\u00e9ricains arrive-t-il \u00e0 son terme ?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legrandcontinent.eu\/fr\/2026\/02\/17\/le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Le redressement des comptes ext\u00e9rieurs am\u00e9ricains arrive-t-il \u00e0 son terme ?\" \/>\n<meta property=\"og:description\" content=\"Selon les derniers chiffres, le d\u00e9ficit commercial am\u00e9ricain, en baisse l\u2019an dernier sous l\u2019effet des mesures protectionnistes de l\u2019administration Trump, a de nouveau augment\u00e9 en novembre.  Si ces donn\u00e9es doivent \u00eatre prises avec pr\u00e9caution, elles pourraient n\u00e9anmoins marquer le d\u00e9but d&#039;une tendance plus durable.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/legrandcontinent.eu\/fr\/2026\/02\/17\/le-redressement-des-comptes-exterieurs-americains-arrive-t-il-a-son-terme\/\" \/>\n<meta property=\"og:site_name\" content=\"Le Grand Continent\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-17T12:34:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-17T16:09:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/legrandcontinent.eu\/fr\/wp-content\/uploads\/sites\/2\/2026\/02\/gc-share-embellie-commerce-ext.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1888\" \/>\n\t<meta property=\"og:image:height\" content=\"1056\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Marin Saillofest\" \/>\n<meta name=\"twitter:card\" 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