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A report released by the Commerce Department on Tuesday showed the U.S. trade deficit widened by much more than expected in the month of August.

The Commerce Department said the trade deficit widened to $73.3 billion from a revised $70.3 billion in July.

Economists had expected the trade deficit to increase to $70.5 billion from the $70.1 billion originally reported for the previous month.

The wider trade deficit came as the value of imports jumped by 1.4 percent to $287.0 billion, while the value of exports rose by 0.5 percent to $213.7 billion.


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