Fact Check: Which foreign countries hold US debt & how much?

Fact Check: Which foreign countries hold US debt & how much?

What We Know

As of March 2025, the total foreign holdings of U.S. Treasury securities amounted to approximately $9.05 trillion. The primary foreign holders include:

• Japan: $1.13 trillion
• United Kingdom: $779.3 billion
• China: $765.4 billion
• Cayman Islands: $455.3 billion
• Canada: $426.2 billion
• Luxembourg: $412.4 billion
• Belgium: $402.1 billion
• France: $363.1 billion
• Ireland: $329.3 billion
• Switzerland: $311.6 billion

These figures are derived from the Treasury International Capital (TIC) reporting system, which provides monthly data on holdings of Treasury securities by foreign entities (source, source).

Analysis

The data on foreign holdings of U.S. Treasury securities is collected from U.S.-based custodians and broker-dealers, which adds a layer of complexity to the accuracy of the reported figures. The TIC system aims to provide a comprehensive overview of foreign investments in U.S. debt, but it is important to note that the actual ownership may not be precisely attributed due to the nature of overseas custody accounts (source).

The Congressional Research Service (CRS) also reports that foreign holdings of federal debt have seen significant increases, with total foreign holdings rising by $1.2 trillion to around $8.5 trillion in recent years (source). This corroborates the data from the TIC, indicating a consistent trend in foreign investment in U.S. debt.

Moreover, a report from USAFacts states that foreign countries owned approximately $7.9 trillion in Treasuries as of April 2024, highlighting the substantial role of foreign entities in financing U.S. debt (source).

The reliability of these sources is generally high, as they are published by government entities and reputable financial news organizations. However, the TIC data may have limitations regarding the precise attribution of ownership due to the complexities of international finance.

Conclusion

The claim that various foreign countries hold U.S. debt and the amounts they hold is True. The evidence from multiple credible sources, including the TIC and CRS, confirms the existence of significant foreign ownership of U.S. Treasury securities, detailing specific amounts held by the leading countries.

Sources

1. Summary - Congress.gov
2. Table 5: Major Foreign Holders of Treasury Securities
3. Foreign Holdings of Federal Debt
4. Foreign Portfolio Holdings of U.S. Securities
5. Foreign holdings of US Treasuries top $9 trillion in March, ...
6. Which countries own the most US debt? - USAFacts
7. PDF Foreign Holdings of Federal Debt - Federation of American Scientists
8. Ranked: The Top 20 Countries Holding the Most U.S. Debt - Visual Capitalist