The US goods-trade deficit has narrowed significantly, with imports declining broadly. According to Commerce Department data, the trade shortfall shrank 10.8% from May to $86 billion. This decline was more than expected, according to a Bloomberg survey of economists, and is seen as a sign that the pre-tariff rush to secure goods has subsided.
Source: https://www.bloomberg.com/news/articles/2025-07-29/us-merchandise-trade-deficit-narrows-by-more-than-forecast