The Chinese government has published early June trade figures showing a 4% increase in exports to the U.S. That comes shortly ahead of the bilateral implementation of $34 billion of duties by both countries on July 6 and is already a slowdown in growth from 12% seen in May and 13% in the prior three months. It leaves the past 12 months exports to America at $454 billion, so the current round of duties only affects 8% of Chinese exports. One potential offset comes from the weakening yuan which is now 6% below its February peak, making Chinese exports cheaper in comparison and offsetting p...