The wave of tariff hoarding retreats! U.S. goods imports plummeted in June, and the deficit narrowed more than expected, which may boost second-quarter GDP

The U.S. trade deficit in goods narrowed more than expected in June, falling 10.8% to $86 billion, reflecting a decrease in the buying spree before the tariff policy took effect, with a general decline in import volumes. Imports in June fell 4.2% to $264.2 billion, with imports of consumer goods and industrial supplies hitting new lows. Economists expect GDP growth in the second quarter to improve, with an increased contribution from net exports. Despite the uncertainty brought by the tariff policy, the Trump administration still views it as a core strategy to stimulate the economy. Complete trade data for June will be released on August 5