U.S. import price deflation continued for a third straight month in February. There was a 1.3% year over year drop in headline prices and a 0.3% decline when excluding food and fuels. The price of imports from China fell for a fourth month with a 0.7% decline from 0.6% in January. That would suggest Chinese exporters may be bearing some of the burden of U.S. import duties by cutting their quoted prices. The suspension of tariff increases may slow that effect. Yet, a 1.2% drop in prices for imports from ASEAN would suggest there’s a wider challenge from slowing global trade.