South Korea’s trade boom is slowing, with total trade in March having increased by 5.6% on a year earlier in March – the slowest rate since November 2016. Export growth of 6.1% was below economists’ expectations of 7.5%. While semiconductor growth of 44% led a 17% growth in shipments to China (chips account for 37% of exports to China) there was a 1% decline in exports to the U.S. That’s been the result of slower auto sales, and may also reflect the impact of tariffs on home appliances. When combined with a 15% rise in imports from the U.S. (oil) that resulted in a 42% drop in the trade ...