US trade gap narrows 5.6% in June but still slightly above expectations
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The overall trade gap came in at US$73.3 billion (S$94 billion).
PHOTO: AFP
- The US trade deficit narrowed by 5.6% to US$73.3 billion in June, due to a larger drop in imports than exports.
- Both imports and exports fell in June, with imports down US$7.3 billion and exports down US$2.9 billion from May.
- So far in 2026, the US goods and services deficit has decreased by 33.8% compared to 2025, driven by an 11.7% rise in exports.
AI generated
Washington – The US trade deficit narrowed slightly in June, government data showed on Aug 4, with both imports and exports contracting over the month before.
The overall trade gap came in at US$73.3 billion (S$94 billion), down 5.6 per cent from May on the back of a bigger decrease in imports than exports.
The data missed expectations slightly, with Briefing.com forecasting the deficit to come in at US$69.6 billion.
US President Donald Trump has sought to remake the global trade order since taking office last year, imposing a raft of sometimes eye-watering tariffs on Washington’s friends and foes alike.
Some of the tariffs have been withdrawn after being contested in court. His latest salvo faced a similar challenge earlier this week in the New York-based Court of International Trade.
The Republican billionaire has made narrowing the US trade gap a key promise of this term – by increasing exports while onshoring industries and manufacturing.
In June, imports came in at US$388 billion, down US$7.3 billion from the month before, while exports dropped US$2.9 billion compared to May to US$314.7 billion.
Over the course of 2026 so far, the US goods and services deficit has decreased by 33.8 per cent compared to the same period in 2025, mostly off the back of a 11.7 per cent increase in exports. AFP
