4/5/2018

CHINA/TARIFFS/TRUMP AS PRESIDENT: “The Trump administration’s tit-for-tat with Beijing over potential tariffs has ushered in a high-stakes standoff over the future of trade between the world’s two largest economies. The combatants will now follow a timeline stretching over the next half year, during which the two sides will seek to negotiate a new normal. President Donald Trump, who initiated the tensions over Chinese trade practices, has put himself in a position to face mounting pressures from lawmakers, an intense campaign from corporate lobbyists, and outcry from businesses big and small navigating cumbersome new trade rules—all of which was feeding tremendous volatility in the stock and commodities markets. U.S. administration officials did little to gloss over the likelihood that the trade spat had entered a period of protracted negotiations—and more market turmoil—and suggested the president was willing to withstand domestic pressures to achieve an improved trading relationship with Beijing.”

Josh Zumbrun, “Tariff Showdown Shifts to Intense Negotiation Period,” The Wall Street Journal, April 5, 2018 1:07pm