The EU’s international trade activity fell for a 13th straight month in January with a 13.8% year over year decline. Trade with the U.K. was the main culprit after the implementation of new trade and customs arrangements at the start of 2021. Exports to the U.K. fell by 27.6% and imports by 59.5%. The differential partly reflects the stricter customs arrangements applied by the EU than the U.K. Total EU exports fell by 8.9% in dollar terms, underperforming a 13.2% year over year in rise in global exports in January. The global average was flattered by China’s post-pandemic recovery and t...