U.S. June Trade Deficit Falls to $73.3 Billion

WASHINGTON — The U.S. trade deficit narrowed 5.6% in June to $73.3 billion, as imports declined amid ongoing trade policy shifts linked to President Donald Trump’s tariff agenda, according to data released Tuesday by the U.S. Census Bureau and the Bureau of Economic Analysis (BEA).

The June deficit was $4.4 billion lower than the revised $77.6 billion recorded in May.

Imports fell 1.8% from the previous month to $388 billion, while exports declined 0.9% to $314.7 billion.

The improvement reflected a $3.9 billion reduction in the goods deficit, which narrowed to $102.1 billion, along with a $500 million increase in the services surplus, which reached $28.8 billion.

For the first six months of 2026, the U.S. trade deficit fell by 33.8%, or $189.3 billion, compared with the same period last year. Exports rose 11.7% to date, while imports edged up 0.4%.

The decline in goods imports was driven primarily by lower purchases of capital goods and consumer products, including computers and pharmaceuticals.

Meanwhile, exports of industrial supplies and materials fell by $3.3 billion, largely due to weaker shipments of crude oil and fuel oil amid market volatility tied to the conflict involving Iran. Those declines were partially offset by higher exports of nonmonetary gold.

Among major trading partners, the U.S. posted a $15.3 billion trade deficit with China and a $10.9 billion deficit with the European Union in June.

The trade deficit with Mexico stood at $20.3 billion, while the gap with Canada totaled $7.2 billion.

The U.S. also recorded a $2.9 billion trade surplus with Switzerland, reversing a $2.3 billion deficit in May. The trade deficit with Taiwan narrowed to $14.9 billion, while the deficit with South Korea widened to $7.4 billion.