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The U.S. trade gap widened about 19 percent in June, hitting a new high since October 2008. The monthly deficit jumped to about 50 billion U.S. dollars, as imports rose 3 percent while exports were down 1.3 percent. The unexpected wider gap may lead the U.S. Commerce Department to revise down the economic growth for the second quarter.
The decline in U.S. exports came as a disappointment to what President Obama had hoped. In January this year, Obama said his administration would double U.S. exports in five years, creating 2 million jobs.