Idea that US has more bullets than China in trade war is nonsense. Look at the trade deficit, China's ownership of USTs, and USD/CNY. If the yuan continues to fall, then China's Asian competitors have to devalue their currencies too. No tariffs on them. US trade deficit explodes! https://t.co/gs6z3UPMQz
— David Brady, CFA (@GlobalProTrader) August 23, 2018
WASHINGTON/BEIJING (Reuters) – U.S. and Chinese officials ended two days of talks on Thursday with no major breakthrough as their trade war escalated with activation of another round of dueling tariffs on $16 billion worth of each country’s goods.
“We concluded two days of discussions with counterparts from China and exchanged views on how to achieve fairness, balance, and reciprocity in the economic relationship,” White House spokeswoman Lindsay Walters said in a brief emailed statement.
The discussions included “addressing structural issues in China,” including its intellectual property and technology transfer policies, Walters said.
The mid-level Trump administration officials participating in the talks would brief the heads of their agencies on the discussions, she added.
So much for the Chinese delegation to Washington. No chocolate cake for them. https://t.co/TgYvaJkFX6
— Anil (@anilvohra69) August 23, 2018