WASHINGTON (AP) -- The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3 ½ years. Exports rose to an all-time high and imports declined, signs that economic growth is stronger than previously thought.
The Commerce Department says the June deficit fell 22.4 percent to $34.2 billion. That's the lowest since October 2009 and down from May's imbalance of $44.1 billion, which was revised down.
Exports rose 2.2 percent to $191.2 billion, reflecting more sales of manufactured goods and farm products. Imports dropped 2.5 percent to $225.4 billion. Oil imports declined to the lowest level in more than two years.
But invariably, pols and pundits will use this, as they've used all the other little dips in the jagged ever upward rising trade deficit, as "proof" free trade is good for the US. They've been doing this same thing since the 80's.