The U.S. goods trade deficit narrowed in June, but falling imports may not prevent trade from dragging down second-quarter growth.

智通财经2026/07/29 19:46

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The U.S. goods trade deficit for June narrowed as imports generally declined, but this improvement may still be insufficient to offset the negative contribution of trade to second-quarter economic growth.
Exports simultaneously fell to a five-month low, with sharp drops in shipments of industrial supplies and petroleum products being the main drag, which to some extent reflects the decline in crude oil prices weighing on export revenues.
As businesses continue intensive investment in artificial intelligence and consumer spending remains resilient, the decrease in imports may be only a temporary phenomenon, since AI development itself is highly dependent on imported components and equipment.
Durable goods orders released on Monday showed strong growth in both non-defense capital goods orders and shipments in June, signaling that import demand may rebound in the coming months, and the trade deficit still faces the risk of widening again.

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The U.S. goods trade deficit narrowed in June, but falling imports may not prevent trade from dragging down second-quarter growth.

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