The U.S. trade-in-goods deficit – the Trump administration’s key metric for the fairness of trade policy – may have taken another substantial step upwards in October having already risen in 21 of the 22 months reported since January 2017. Analysis of seven ports’ operations shows imports increased by an average 14.3% in October vs. a year earlier vs. exports which rose by just 0.4%. Taking imports from all ports and allowing for price inflation the growth in imports may have exceeded exports by 12.1% points, the widest margin since January. Chinese trade data paints a similar picture ...