US Trade Deficit Shrinks To 2-Year Lows
Abstract：The US trade deficit narrowed in June to the tightest since September 2023 as companies scaled back
The US trade deficit narrowed in June to the tightest since September 2023 as companies scaled back on imports after a massive tariff-front-running surge earlier in the year.
The goods and services trade gap shrank 16% from the prior month to $60.2 billion (slightly better - smaller - than the $61 billion expected)...
Source: Bloomberg
The value of imports fell 3.7% MoM while exports contracted by 0.5% MoM...
Source: Bloomberg
Total imports fell to their lowest since March 2024 while exports dropped to their lowest since January 2025...
Source: Bloomberg
Gold imports plunged to their lowest since 2019...
Source: Bloomberg
Finally, we note that China trade has been wild!!
- *US JUNE GOODS EXPORTS TO CHINA RISE 45.4% M/M
- *US JUNE GOODS IMPORTS FROM CHINA FALL 6.9% M/M
Which together make for the smallest trade deficit with China since February 2004...
As a reminder, these figures arent adjusted for inflation.
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