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Economic Report: U.S. trade deficit jumps to 5-year high in January

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U.S. trade deficit jumps 9.6% in January to 5-year high of $48.5 billion.

WASHINGTON (MarketWatch) — The U.S. trade deficit shot up in January to a five-year high, underscoring the daunting problem faced by a Trump administration determined to reduce the gap.

The trade deficit rose 9.6% to $48.5 billion in January from a revised $44.3 billion in December, the government said Tuesday. Economists polled by MarketWatch had forecast a gap of $48.8 billion. Figures are seasonally adjusted.

The wider deficit was spurred by a 2.3% increase in imports of consumer goods such as cell phones from China and other countries.

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