US Trade Deficit Shrinks 16 Percent Amid Sharp Decline in Imports

The shortfall with China has plunged to the lowest level since February 2004.

Containers on a cargo ship awaiting offloading at Port Miami in Miami, Fla., on April 15, 2025. Joe Raedle/Getty Images

The U.S. trade deficit narrowed in June as President Donald Trump’s tariff plans continue to shift global trade patterns.

According to the Bureau of Economic Analysis, the overall goods and services trade gap declined by 16 percent to $60.2 billion from a slightly revised $71.7 billion in May.