US trade deficit narrows to $73.3bn in June

The US trade deficit narrowed to $73.3 billion in June, government data showed Tuesday, as imports fell more than exports from the previous month.

The overall trade gap was down 5.6% from May. Imports fell by $7.3 billion to $388 billion, while exports dropped by $2.9 billion.

Briefing.com had forecast a smaller deficit of $69.6 billion.

Crude oil and fuel oil accounted for the biggest drop in exports, as energy prices fell during positive negotiations in the US war on Iran in June.

US President Donald Trump has made narrowing the trade gap a key promise of his term, seeking to increase exports while bringing more industry and manufacturing into the United States. His administration has imposed a series of tariffs on trading partners, though some have been withdrawn after court challenges.

So far in 2026, the US goods and services deficit has decreased by 33.8% compared with the same period in 2025, mostly because exports rose 11.7%.