Eurozone trade surplus falls in June as tariffs bite

(Sharecast News) - The eurozone's trade surplus fell sharply in June as the US tariff war continued to hit exports, according to official data published on Monday. The trade surplus fell to €7bn compared to May's surplus of €16.5bn, the European Union stats agency Eurostat reported.

Overall exports were up 0.4% year-on-year after rising 0.9% in the previous month. Imports jumped to 6.8% from a 0.7% decline in the previous month.

EU exports to the US were down 10.3%, while imports from the US rose 16.4%. Shipments to China declined by 12.7%, while imports increased 16.7%.

The EU and US in July agreed a trade deal that imposes a 15% tariff on the exports to America.