The U.S. trade deficit in goods and services inched 0.3% higher in April, making the 14th straight increase. An 8% rise in good imports – which looks set to continue in May – overwhelmed a 7% rise in services exports. The latter was the fastest rate of growth since May 2014 due to accelerating financial services. The rising goods deficit (the Trump administration’s main trade metric) masks two trends. The deficit vs. NAFTA and South Korea, where the U.S. is either renegotiating or just renegotiated deals, both fell. By contrast the deficit vs. China rose 1% and vs. the EU there was a ...