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Investing.com - The U.S. trade deficit narrowed in June by more than anticipated in June, reflecting a dip in imports at the end of the second quarter following a tariff-fueled rise in incoming goods earlier in the year.
Data from the U.S. Census Bureau and Bureau of Economic Analysis showed that the trade gap slipped by 16% to $60.2 billion during the month, down from $71.7 billion in May. Economists had anticipated a reading of $62.6 billion.
Imports dipped by 3.7% to $337.5 billion, while the three-month moving average dropped by $27.3 billion to $346.2 billion. Goods coming into the country saw the largest decreases, particularly items used in the preparation of pharmaceutical drugs.
Exports, meanwhile, declined by 0.5% to $277.3 billion.
Tuesday’s figures come after a separate report last week showed that U.S. economy grew by more than projected in the second quarter, rebounding from a contraction in the first three months of 2025.
The Bureau of Economic Analysis said the increase in gross domestic product was primarily a reflection of a decline in imports, which are a substraction in the calculation of the growth figure. Imports soared in the first quarter as companies raced to lock in orders prior to the implementation of Trump’s elevated "reciprocal" tariffs on a range of U.S. trading partners.
However, the GDP report also displayed moderate consumer spending growth, a sharp slowing in business investment and contraction in residential investment -- all potential red flags for the economy over the remainder of 2025.