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TACO du jour
Yesterday, the fucking moron paraded a trade deal with China and markets reacted - eh.. Today, the WSJ Editorial Board states the obvious in the headline: Trump Has No China Trade Strategy
President Trump on Wednesday hailed the result of the latest trade talks with China as a great victory, but the best we can say is that it’s a truce that tilts in China’s direction.
...
This gets to the larger problem with Mr. Trump’s tariff strategy—that is, he doesn’t have one. His latest walk-back shows he can’t bully China as he tried to do in his first term. China has leverage of its own.
A smarter trade strategy would be to work with allies as a united front to counter China’s predatory trade practices. Instead, Mr. Trump has used tariffs as an economic scatter-gun against friends as well as foes. This increases China’s leverage, and, like this week’s trade truce, that’s nothing to cheer about.
https://www.wsj.com/opinion/china-trade-talks-donald-trump-tariffs-f730f437