Hong Kong’s ports continued to struggle in March with a 7% drop in container handling on a year earlier. That was the fifth decline in the past six months and meant 1Q handling fell 1% on a year earlier, suggesting the drop is systemic rather than seasonal. It also matches data from COSCO Shipping’s ports, and indicates little impact from recent port automation investments. Hong Kong may face headwinds from forthcoming U.S. tariffs on Chinese exports, though these should not be overstated. Most of the top export lines shipped by sea to the U.S. from Hong Kong are consumer products (ap...