With the value of exports climbing and the value of imports edging lower, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed in the month of July.
The Commerce Department said the trade deficit narrowed to $70.1 billion in July from a revised $73.2 billion in June, which still represented a record high.
Economists had expected the trade deficit to narrow to $71.0 billion from the $75.7 billion originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.