(David Paul Morris/Bloomberg)Key Takeaways: The U.S. goods trade deficit narrowed 4.2% to $101.5 billion in June as imports fell 2.6% and exports declined 1.8%. The smaller deficit reflected weaker imports and exports, while AI-related imports, petroleum demand and tariff concerns contributed to recent trade fluctuations. More complete June trade data including services is due Aug. 4 and will help inform assessments of second-quarter GDP growth. The shortfall in goods trade declined 4.2% from the prior month to $101.5 billion, Commerce Department data showed July 28. Figures on retail inventories, released alongside the goods trade data, showed they were little changed in June.