A weak yuan guarantees Beijing massive trade surplus even as the White House tries tamp down on Chinese imports
Since China offered a truce in the trade war last October following its threat to deprive the United States of rare-earth magnets, the Trump administration has been happy to stop escalating. After all, imports from China have been falling, down by 40% in the year to June, compared with the same period in 2024. Best to declare victory and call it a day.
But the US hasn’t won this battle – and there’s strong evidence to show it’s too chicken to really try.
Continue reading...
TH
Source
This article was originally published by The Guardian and written by Eduardo Porter.
Read original article on The Guardian