U.S. seaborne imports returned to growth in July with 1.5% increase year over year after a 2.5% decline in June. Imports from China continued to slide with a 3.0% reduction compared to a 3.3% fall in 2Q. That was offset by an increase in shipments from Asia ex-China which climbed 11.5% as companies switched sourcing to Vietnam – imports from which rose 28.5% to a record number of shipments – as well as India and Thailand where imports climbed 17.6% and 16.0% respectively. There’s signs of stockpiling in consumer goods as a response to the May breakdown in U.S.-China talks, rather than th...