U.S. trade activity slowed in December after merchandise imports and exports grew by just 1.8% year over year, the slowest since Oct. 2016. A 0.3% drop in exports combined with a 3.2% rise in imports meant the trade deficit – the Trump administration’s key trade metric – reached a record high of $79.5 billion. The drop in exports was largely down to the automotive sector which saw a fifth straight decline of 9.0%. By contrast automotive imports rose 4.8% resulting in a $213.5 billion trade deficit in autos alone for calendar 2018. That’s likely to add to pressure on President Donald Trum...