U.S. Trade Deficit Shrinks Sharply as Imports Plunge and Trump Tariffs Bite, China Gap Hits 21-Year Low
The U.S. trade deficit narrowed dramatically in June, falling to $60.2 billion–the lowest level since September 2023–as imports plunged and the trade gap with China shrank to a 21-year low. The Commerce Department’s Bureau of Economic Analysis released the data Tuesday, highlighting the significant impact of President Donald Trump’s aggressive tariff policies on global trade dynamics.
