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U.S. Trade Deficit Shrinks
America's trade deficit narrowed 7% to $41.5 billion from May to June, the U.S. Dept. of Commerce reports.
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America's trade deficit narrowed 7% to $41.5 billion from May to June, the U.S. Dept. of Commerce reports.
Exports grew 0.1% to a record $196 billion. Imports dropped 1.2% to $237 billion.
Imports and exports of cars and auto parts fell $1.1 billion and rose $200 million, respectively, from May to June. The country's trade deficit in petroleum products dropped to a four-year low of $14.6 billion as the need for imported oil continued to decline.
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