U.S. import growth has continued to surge, with seaborne imports having expanded by 6% on a year earlier in November. The long-term rotation of manufacturing capacity from more- to less-developed countries in Asia kept going as shipments from Vietnam and Thailand to the U.S. climbed by 19% and 15% respectively, while those from Taiwan and South Korea fell. The apparel industry may have seen an end to the steady inventory-reduction process in retail after imports climbed by 7%. That was the fastest rate since February 2016. Shipments of iron and steel meanwhile grew by 8%, possibly due to...
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