US trade deficit shrinks as AI demand sustains import reliance

Commerce Department data shows both imports and exports retreated in June, with the total trade gap landing slightly above the $73.0 billion forecast by Reuters. Exports slipped 0.9% to $314.7 billion, hampered largely by a decline in petroleum prices, which saw crude oil export values drop by $5.7 billion. While industrial supplies faltered, the services sector provided a rare bright spot, with exports rising to $107.8 billion.

Imports fell 1.8% to $388.0 billion, driven by a reduction in pharmaceutical preparations and computer shipments. However, the drop in computer imports is viewed as a temporary fluctuation rather than a shift in trend; businesses remain aggressive in their pursuit of AI infrastructure, with computer imports running $95.4 billion higher year-to-date compared to 2025. This robust domestic demand keeps the U.S. trade balance under pressure despite tariff policies. The deficit with China widened to $15.3 billion, while record goods trade deficits were logged with Mexico, Vietnam, and South Korea, highlighting the structural challenges that persist nearly two years into the current administration.