U.S. international trade activity fell by 2.8% year over year in February, the sixth straight decline, due to a 5.8% slide in goods imports as well as a slide in transport and travel services. A drop in bilateral activity in the latter two categories was due to the spread of travel bans linked to the coronavirus outbreak and so may have fallen further in March and April. In February there was a 6.7% year over year slide in bilateral transport services and a 6.9% decline in travel. The good news for the Trump administration’s trade policy is that the trade deficit fell by 22.1% year over ...
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