The week started with a failure-to-launch for a trilateral NAFTA deal - progress was made but no conclusion reached by Thursday - leaving $1.2 trillion of trade under a cloud of uncertainty. The Trump administration’s 25% duties on $200 billion of Chinese exports could emerge at any time, though earlier duties already started to eat into Chinese shipments to the U.S. in August. The peak shipping season may have peaked early. A 13% surge in the American trade, including record highs for China and the EU, will do nothing to divert the U.S. government’s trade intentions. The logistics industry had a challenging week with a tragic typhoon and earthquake disrupting Japanese supply chains while Shanghai faced congestion at just the wrong time.