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Trump’s phase 1 ammunition builds as Chinese purchases rise, but not by enough

Ags - Grains/Beans 251 Ags - Meat/Dairy 204 Canada 427 China 2606 Cons. Discr. - Autos 956 Consumer Staples 627 Energy - Conventional 385 Energy - Crude Oil 264 Energy - Natural Gas 124 European Union 660 Health Care 258 Metals - Steel 438 Mexico 733 Trade Balance 868 Trade Deals 908 U.S. 4640

U.S. international trade activity dropped by 28.0% year over year in May, the 12th straight decline and an acceleration from a 24.7% slide in April. The impact of COVID-19 on manufacturing and demand for industrial and commercial products were the main drivers with exports of goods having fallen by 35.3% compared to a year earlier. Exports to Canada and Mexico slumped 48.1% lower while shipments to Europe and Asia ex-China fell by 33.1% and 32.3% respectively. Shipments to China meanwhile rose by 6.3% compared to a year earlier as the result of increased purchasing of commodities under t...

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