Brazil’s trade economy continues to weaken with a 16.6% year over year slide in exports in November, though the figures should be taken with a pinch of salt after the national statistics institute stated figures have been under-reported. Even if the absolute figures are wrong, the downward direction is concerning. Deteriorating relations with Argentina and fresh tariffs on steel exports to the U.S. represent further challenges. Commodity exports have generally been in decline, though there have been some signs of life in soybean exports, which increased by 1.1% year over year in October ...