Eurozone trade surplus falls in June as tariffs bite.

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.

Source: Sharecast

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.

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