The U.S. merchandise trade deficit surged 18% on a year earlier in August to reach $76 billion. That was above the $72 billion expected by economists and resulted from an 11% jump in imports. With seaborne imports having risen by just 2% that would indicate a marked acceleration in airfreight and land transport from NAFTA. The acceleration was due in large part to industrial materials including oil (22% higher). That may continue with oil prices having risen 5% in September vs. August set to inflate the $43 billion “energy deficit”. Continued growth in consumer and capital goods (8% and ...