US trade deficit hits record $75.7 billion in June

The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy sent demand for imports surging

WASHINGTON -- The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy sent demand for imports surging. The Commerce Department reported Thursday that the deficit rose 6.7% from a revised May deficit of $71 billion. The June deficit set a record, topping the old mark of $75 billion set in March. The trade deficit represents the gap between what the country exports to the rest of the world and what it purchases from other countries. In June, exports edged up a modest 0.5% to $207.7 billion while imports surged 2.1% to $283.4 billion. The politically sensitive goods deficit with China rose to $27.8 billion in June, up 5.8% from the May level. So far this year, the goods deficit with China, the largest that the United States runs with any country, totals $158.5 billion, an increase of 19.2% compared to the same period in 2020.