According to data from the Commerce Department, the United States’ trade deficit fell by $11.5 billion compared to May.
The U.S. trade deficit with its international partners fell to $60.2 billion in June, continuing the decline witnessed in May.
Data from the Commerce Department showed the United States’ trade deficit fell by $11.5 billion compared to May and was lower than Dow Jones’ median forecast of $61 billion, according to MarketWatch.
The decline in fiscal deficit during June was largely on account of a decrease in goods deficit of $11.4 billion, while services exports increased $0.1 billion.
June exports were $277.3 billion, $1.3 billion less than May exports. June imports were $337.5 billion, $12.8 billion less than May imports.
The decline in the deficit during June comes after an increase in May. While the deficit in May increased by $11.3 billion during the month compared to April, June witnessed a similar move in the opposite direction.
However, in April, there was a significant decline of $76.7 billion in the fiscal deficit – the largest monthly decline on record, as President Donald Trump unleashed the “Liberation Day” tariffs on all trading partners of the U.S.
Year-to-date, the U.S. fiscal deficit increased by 38.3% to $161.5 billion. Exports rose 5.2% to $82.2 billion, while imports increased 12.1% to $243.7 billion.
Meanwhile, U.S. equities surged in Tuesday’s morning trading session. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.13%, while the Invesco QQQ Trust (QQQ) gained 0.3%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.
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