Key facts
- The U.S. trade deficit narrowed by 5.6% to $73.3 billion in June.
- Both imports and exports declined in June.
- Exports fell 0.9% to $314.7 billion, while imports dropped 1.8% to $388.0 billion.
- The real goods trade deficit decreased by 5.3% to $94.5 billion.
- The goods trade deficit with China widened to $15.3 billion.
The U.S. trade deficit narrowed in June, with both imports and exports declining from May levels. The Commerce Department reported the trade shortfall contracted 5.6% to $73.3 billion. Exports fell 0.9% to $314.7 billion, while imports dropped 1.8% to $388.0 billion. The decline in imports was led by capital goods, though imports of computers remain significantly higher year-over-year due to AI investment.
Despite the narrowing deficit, economists suggest the trend may not be sustained due to ongoing demand for imports related to AI buildouts. The real goods trade deficit also decreased, while services trade saw modest increases in both exports and imports. The U.S. maintained goods trade deficits with several countries, including a widened deficit with China.