In June, in USD terms, US imports dropped -7.3% yoy to USD 16.19B. Exports dropped -1.3% yoy to 21.28B. Both import and exports were worse than expectation of -4.6% yoy and -0.6% yoy respectively. Trade surplus came in at USD 51.0B above expectation of USD 45.2B.
The results clearly showed some impacts in trade after US imposition on higher tariffs on USD 200B of Chinese goods came into effect. But so far, there was no notably improvement in US-China trade balance. US trade deficit with China came in at USD -140.5B in the first half, worse than USD -133.8B in first half of 2018.
Here are some details:
From Jan to Jun, with US:
- Total trade dropped -14.2% yoy to USD 258.3B.
- Exports dropped -8.1% yoy to USD 199.4B.
- Imports dropped -29.9% yoy to USD 58.9B.
- Trade surplus was at USD 140.5B.
From Jan to Jun, with EU:
- Total trade rose 4.9% yoy to USD 338.0B.
- Exports rose 6.0% yoy to USD 202.8B.
- Imports rose 3.3% yoy to 135.2B.
- Trade surplus was at USD 67.6B
From Jan to Jun, with AU:
- Total trade rose 6.3% yoy to 78.7B.
- Exports rose 2.0% to USD 22.1B.
- Imports rose 8.1% to USD 56.7B.
- Trade deficit was at USD -34.6B.