The Census Bureau and the Bureau of Economic Analysis reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that
the goods and services deficit was $69.0 billion in May, down $5.5 billion from $74.4 billion in April,
Exports and imports decreased in May.
Exports are down 3% year-over-year; imports are down 7% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, exports of petroleum products are positive and have picked up.
The trade deficit with China decreased to $25.2 billion in March, from $31.5 billion a year ago.