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US Trade Gap Narrows in June as Exports, Imports Rise

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U.S. trade deficit declined to USD 50.7 billion in June 2020 from a one-and-a-half year high of 54.8 in the previous month and a market expectation of USD 50.1 billion.

Both exports and imports recovered strongly as global demand recovered from the coronavirus shock. Exports increased 9.4% while imports increased 4.7%.