World trade in goods plunged by 12% in April from March, after having already dropped 2.4% in March from February. This plunge of the Merchandise World Trade Monitor, released by CPB, was by far the largest month-to-month drop in the history of the data going back to 2000. Compared to April last year, the index was down 16.2%.
And this can easily be seen in the US data
Exports of goods collapsing 25% in April from March and 30% year-over-year, according to the Commerce Department earlier in June.… Read more