The Trump Administration’s Dead End on Trade
The Trump administration has initiated a trade dispute with China with the stated goal of reducing America's bilateral deficit. But given the strengthening dollar and expansionary US fiscal policies, the US trade balance will almost certainly worsen for the foreseeable future.
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LONDON – There is every reason to believe that the United States’ trade dispute with China will get worse before it gets better, and that the US trade deficit will widen further rather than shrinking. In fact, the economic conditions – were they to materialize – that would allow President Donald Trump’s administration to claim victory in the dispute would ultimately undermine its economic policy credibility.