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The U.S. Commerce Department released the trade data on Tuesday. The U.S. trade deficit widened to $48.33 billion in August from $41.81 billion in July, missing expectations for a rise to $47.4 billion. July's figure was revised down from a deficit of $41.90 billion.
The rise of a deficit was driven by a rise in imports and a decline in exports. Exports declined 2% in August, while imports increased 1.2%.
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