The U.S. trade deficit jumped in January to the highest level in nearly five years as a flood of mobile phones and other consumer products widened America’s trade gap with China. The result underscores the challenges facing President Donald Trump in fulfilling a campaign pledge to reduce America’s trade deficits.

The deficit in January rose 9.6 percent to $48.5 billion, up from a December deficit of $44.3 billion, the Commerce Department reported Tuesday. It was the largest monthly gap since a deficit of $50.2 billion in March 2012.

U.S. exports edged up a slight 0.6 percent to $192.1 billion, helped by stronger auto sales. But that was swamped by a 2.3 percent surge in imports to $240.6 billion, led by mobile phones, oil and foreign-made cars.

During the campaign, Trump pledged to attack America’s persistent trade deficits, which he blamed for the loss of millions of good-paying factory jobs.

He has threatened to slap punitive tariffs on imports from China, Mexico and other nations he has accused of trading unfairly.

But economists worry that Trump’s tough talk could spark all-out trade wars in which foreign nations retaliate by boosting their tariffs on American goods.

Zuckerberg to speak at Harvard

Mark Zuckerberg is headed back to Harvard, but this time he’ll be giving the commencement speech.

The Ivy League school announced Tuesday that the Facebook CEO and Harvard dropout was chosen to address students at a May 25 graduation ceremony.

Harvard President Drew Faust says Zuckerberg “has profoundly altered the nature of social engagement worldwide,” adding that she’s glad to welcome him back.

Zuckerberg went to Harvard as an undergraduate in 2002 but left after his sophomore year to pursue his company, which became Facebook.

He had planned to return to Harvard later but changed his mind after Facebook became a quick success.

Consumer borrowing rises $8.8B

Consumers pulled back on credit card debt in January, leading to the smallest increase in consumer borrowing in more than four years.

Total borrowing rose $8.8 billion in January compared with an increase of $14.8 billion in December, the Federal Reserve reported Tuesday.

It was the smallest monthly gain since borrowing-only went up $7.6 billion in July 2012.

The slowdown reflected a big reduction in the category that covers credit card debt, which fell $3.8 billion in January.

It marked the first time credit card debt has declined since February 2016 and was the biggest reduction since October 2010.