The U.S. trade deficit narrowed in June as President Donald Trump’s tariff plans continue to shift global trade patterns.
According to the Bureau of Economic Analysis, the overall goods and services trade gap declined by 16 percent to $60.2 billion from a slightly revised $71.7 billion in May.
The consensus estimate suggested a trade deficit of $61.6 billion.
Imports fell by almost 4 percent to $337.5 billion, the lowest since March 2024. The decline was driven by lower purchases of consumer goods, industrial supplies and materials, and automobiles and car parts.
Exports dipped 0.5 percent to a five-month low of $277.3 billion. Shipments of industrial supplies and materials fell, which was offset mainly by exports of capital and consumer goods….