U.S. international trade activity dropped by 24.8% year over year in April, largely due to the disruptions caused by COVID-19. Exports fell by 30.0% while imports dropped by 20.2%, showing the global economic slowdown is as much a problem as industrial and services shutdowns in the U.S. for most of the month. The trade in goods deficit, the Trump administration’s preferred trade metric where lower is “better”, fell by 6.3% including a 16.2% drop in the deficit with China due to tariffs and increased Chinese purchases under the phase 1 trade deal. Trade with Canada and Mexico slumped by 4...