US trade gap narrows less than expected in June, down 2.5% to $73.1 billion

In June, the US trade deficit decreased by 2.5 percent to $73.1 billion, which was slightly higher than analysts had predicted. The narrowing of the trade gap was due to an increase in exports, notably in civilian aircraft and industrial supplies, while imports saw a rise in pharmaceuticals and semiconductors. The reduction was moderated by fewer crude oil imports.