June’s U.S. trade deficit was $60.2 billion, from $71.7 billion in May, according to the data released Tuesday by the U.S. Bureau of Economic Analysis.
The June figures show trade surpluses with countries including the Netherlands, the UK, Hong Kong and Australia.
However, deficits were recorded with leading partners such as Canada, China, European Union, and Mexico.
Imports fell across key categories
The overall imports of both goods and services fell by 3.7%, largely owed by the the decrease in goods imports.
Imports of goods decreased 5% , from $277.6 billion in May to $265.0 billion in June. However the drop is comparatively small when compared to April data. April figures showed a 20% decrease in goods imports.
The decrease was driven by declines in:
• Consumer goods (especially pharmaceuticals)
• Industrial supplies and materials (including crude oil, nuclear fuel, and petroleum products)
• Automotive vehicles, parts, and engines
The road ahead- more tariff tensions?
The report underscores the tariff anxiety across countries and companies following Trump’s April 2 “liberation day” announcement.
Although some tariffs have been paused or adjusted, the future of U.S. trade policy remains unclear.
As of last week, the White House released updated reciprocal tariff rates for countries that did not reach a new trade deal, further sparking global concerns over trade disruptions and supply chain realignments.