Trade gap narrows: US deficit dips 16% to $60.2 billion in June; import slump follows Trump’s tariffs

The US trade deficit experienced a significant 16% decrease in June, reaching $60.2 billion, primarily due to a sharp decline in imports. This contraction was influenced by President Trump's tariffs, which led to reduced foreign purchases amid rising costs. The goods trade deficit with China also narrowed amidst ongoing trade tensions between the two nations.