The overall trade gap came in at US$73.3 billion, down 5.6 percent from May on the back of a bigger decrease in imports than exports.
The data missed expectations slightly, with Briefing.com forecasting the deficit to come in at US$69.6 billion.
US President Donald Trump has sought to remake the global trade order since taking office last year, imposing a raft of sometimes eye-watering tariffs on Washington’s friends and foes alike.
Some of the tariffs have been withdrawn after being contested in court.
His latest salvo faced a similar challenge earlier this week in the New York-based Court of International Trade.
The Republican billionaire has made narrowing the US trade gap by increasing exports with onshoring industries and manufacturing a key promise of this term.
In June, imports came in at US$388 billion, down US$7.3 billion from the month before, while exports dropped US$2.9 billion compared to May.
The reduction in exports saw the biggest drop coming from crude oil and fuel oil, as energy prices fell on the back of positive negotiations in the US war on Iran in June.
Trump’s war on Iran has roiled global energy markets as Tehran’s retaliatory action has virtually closed the Strait of Hormuz, through which about a fifth of the world’s oil and gas normally travels.
Iran has also hit Washington’s Gulf allies with missile and drone attacks, affecting key energy production facilities.
Over the course of 2026 so far, the US goods and services deficit has decreased by 33.8 percent compared to the same period in 2025, mostly off the back of a 11.7 percent increase in exports. (AFP)
