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US trade deficit falls by 16% in June, down to $60.2 bln

The Department of Commerce noted that, against the backdrop of tariffs introduced by President Donald Trump’s administration, US imports of goods fell to their lowest level since March of last year

WASHINGTON, August 5. /TASS/. The United States trade deficit narrowed by 16% in June compared to May, amounting to $60.2 bln, according to a report from the US Department of Commerce.

Imports of goods and services in June totaled $337.5 bln, down 12.8% from the previous month. Exports declined by 1.3% month-over-month, reaching $277.3 bln.

The Department of Commerce noted that, against the backdrop of tariffs introduced by President Donald Trump’s administration, US imports of goods fell to their lowest level since March of last year. Meanwhile, the trade deficit with China dropped to $9.5 bln, marking the lowest figure since February 2004. Imports from China fell to $18.9 bln, the lowest level since February 2009.

For the full year 2024, the US trade deficit reached $918.4 bln, reflecting a 17% year-on-year increase. US exports of goods and services totaled $3.19 trillion, while imports stood at $4.11 trillion.