The biggest risk for global supply chains currently is the spread of coronavirus. Before that it was the U.S.-China trade war that caused the most uncertainty. The latest data suggests that there’s a risk of trade hostilities returning. U.S. imports from China fell by 31.3% year over year in February, led by a 38.4% drop in imports of list 4A products. The latter had section 301 tariffs applied at a rate of 15% until mid-February when they fell to 7.5%. The fastest rate of decline in dollar terms among list 4A products was for network devices and televisions. The latter included...