American business optimism regarding international trade appears to have improved in the latest ISM survey. Export and import expectations both improved after three months of declining (but still positive) sentiment with net order outlook reaching 56.0 and 54.5 respectively (over 50 indicates growth). The arrival of tariffs on $250 billion of Chinese exports is having a mixed effect with affected industries seeing a slowdown while those yet to be covered seeing improved activity. That could soon change should President Trump widen tariffs to cover all products. The improved U.S. sentimen...