Hapag-Lloyd’s profitability fell in 4Q, in part due to lower-than-average achieved shipping rates – it’s low exposure to China should protect it in 2019 though. Nissan is shifting engine production to the U.S. ahead of new rules of origin in the USMCA. Also: trade sanctions pressure has been applied to North Korea, this week’s summit will show its effectiveness; Canada may not “get there” on USMCA due to steel and aluminum duties; Kubota’s kicked up its pricing as steel costs plough into profits; a record inventory surge is set to continue as Europe’s zig matches China’s zag; global trad...