Trade gap narrows: US deficit dips 16% to $60.2 billion in June; import slump follows Trump’s tariffs
Tuesday, 5 August 2025 () The US trade deficit experienced a significant 16% decrease in June, reaching $60.2 billion, primarily due to a sharp decline in imports. This contraction was influenced by President Trump's tariffs, which led to reduced foreign purchases amid rising costs. The goods trade deficit with China also narrowed amidst ongoing trade tensions between the two nations.
Donald Trump has declared that “billions are flowing into America” due to his latest round of tariff hikes, which took effect August 7. Claiming an economic windfall, Trump said the tariffs will restore jobs and cut trade deficits. However, critics and netizens quickly fact-checked the boast,...
President Trump warned of steep 200% tariffs on China if rare-earth magnet exports were curbed, raising fresh concerns over the fragile U.S.-China trade truce. Speaking alongside South Korean President..
Russia has released dramatic footage showing its drone strike destroying a U.S.-supplied AN/TPQ-36 radar system used by Ukraine to track artillery fire. The system erupted in flames after a precise..
Ukraine’s Independence Day was marred by escalating violence as Russia unleashed a massive drone and missile assault, killing two and injuring 33 in Kherson. Ukraine claims to have shot down 71 of..
Tuesday, 5 August 2025 ()
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