The use of customs duties as a tool and a focus on the trade-in-goods deficit as a metric have been hallmarks of the Trump administration’s trade policy. Trade data for August provides the last chance before the elections to gauge the progress of Trump’s policies. The objective of reducing the trade deficit has been achieved. The U.S. trade in goods deficit in the 12 months to Aug. 31 reached $921 billion versus $795 billion in 2016. While the deficit with China fell to $339 billion from $374 billion the deficit versus the EU, Canada/Mexico and Vietnam all surged. Tariff policy may have ...