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Gina Raimondo easily won Senate confirmation as Commerce secretary, placing the Rhode Island governor at the heart of President Joe Biden’s efforts to revive the U.S. economy and confront alleged unfair trade practices by China.

The U.S. trade deficit widened to the second largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods to climb to the highest yet.

The U.S. merchandise-trade deficit unexpectedly narrowed in September from the prior month’s record as imports declined for the first time in four months.

The U.S. economy will see a slightly deeper contraction this year but a bigger rebound in 2021 than previously forecast, according to updated estimates from the Congressional Budget Office.

The International Monetary Fund sees the world needing public investment of more than $20 trillion in the next two decades as nations spend on initiatives including improved healthcare systems, infrastructure and green technology.

Mexico is redoubling its efforts to reach a NAFTA agreement with the U.S. and Canada by the end of August to increase certainty for investors and take the heat off incoming President Andres Manuel Lopez Obrador, according to three people familiar with the negotiations.

President Donald Trump’s push for a quick resolution to NAFTA talks is being stymied by persistent differences among the United States, Canada and Mexico over a handful of the make-or-break issues.

The Trump administration is pushing for a preliminary NAFTA deal to announce at a summit in Peru next week, and will host cabinet ministers in Washington to try to achieve a breakthrough, according to three people familiar with the talks.