US Trade Deficit Narrows to $73.3 Billion as Imports Fall in June

The US trade deficit narrowed to $73.3 billion in June, marking a 5.6% decrease from May as imports declined for the first time since the beginning of the year. While both imports and exports fell during the month, imports decreased more sharply at 1.8% compared to a 0.9% drop in exports, contributing to the overall improvement in the trade balance.