NAFTA negotiations have been suspended until May 7 to allow for a U.S. trade mission to China as well as industry consultations. That comes after a period of intense discussions, but coincides with another rise in the U.S. trade deficit. The trade-in-goods deficit climbed 5% in March, the 18th straight increase. While import growth of 9% lagged an oil-inspired 11% surge in exports the scale of imports (1.5x exports) ensured the increased deficit. The NAFTA talks are stuck on the same issues as before, including technical matters such as the five-yearly “sunset” clause. From an industrial...