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With the value of exports falling and the value of imports rising, the Commerce Department released a report on Wednesday showing the U.S. trade deficit widened in the month of July.

The Commerce Department said the trade deficit widened to $50.1 billion in July from a revised $45.7 billion in June.

Economists had expected the deficit to widen to $50.1 billion from the $46.3 billion originally reported for the previous month.