The U.S. trade deficit fell on a year-on-year basis for the first time since 2/2017, suggesting President Trump’s trade policy is working. There are major caveats though. THE has cut its Transpacific services. Maersk’s new Mexican rail service competes with its liner operations. Also: Canada’s trade difficulties build; steel and aluminum duties have trimmed rather than transformed imports; Tesla has pushed up prices in China in response to new tariffs; logistics employment continues to expand; container rates fell more quickly than bunker fuel last week; NAFTA-lite may be acceptable to ...