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 WASHINGTON (AP) - The U.S. trade deficit declined to a four-month low even though imports from China hit an all-time high. Demand for Chinese goods has remained strong despite recalls of unsafe products this year.
In other economic news Tuesday, inflation at the wholesale level jumped 0.6 percent in July, driven up by higher energy costs. However, outside of energy, wholesale inflation remained under control with core prices rising just 0.1 percent.
The trade deficit dropped to $58.1 billion in June, a 1.7 percent decline from May level, the Commerce Department reported.
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