U.S. international trade activity contracted by 3.3% in October, driven by a 5.5% slide in trade-in-goods while services expanded by 3.6%. The contraction in imports of goods far oustripped the decline in exports, with the result that the overall trade deficit fell 7.6% to $47.2 billion – a sign of success in the eyes of the Trump administration. The trade war with China can also be defined as working. U.S. imports from China fell by 23.1% while exports only declined by 2.8%, suggesting U.S. measures are proving more successful than China’s. Unlike prior months though, imports excluding ...