The phase 1 trade deal between the U.S. and China, which brought a respite in the trade war, is in part predicated on a marked increase in U.S. exports to China. Total exports improved by 9.2% year over year in April but are still well behind the target envisaged by the trade deal. China’s imports of 548 products specified in the deal reached $6.02 billion in April, rising 13.6% on a year earlier and by 3.9% versus the 2017 baseline for the deal. Yet, the run-rate implied by the deal is nearer $11.9 billion per month. Imports of agricultural goods were led by a 588% surge in por...