A Trade Deal With China Wouldn’t Change Much
Any agreement would be difficult to interpret and enforce, leaving tensions at about where they are now.
Coming to Washington, but why?
Photographer: Andy Wong/AFPRight now many of us are suffering from a combination of whiplash and fatigue brought on by the Trump administration’s trade talks with China. Are his tweets real threats, or a bluff, or just reflective of his mood? Is Vice Premier Liu He coming to Washington to resume the talks or not? How will markets react to each new development?
Yes, these machinations matter. But it is more important to focus on the big picture: The trade talks are chaotic because a trade deal would be chaotic. By which I mean, it would be difficult to interpret and enforce, not unlike the present situation. All this is true even without considering the additional uncertainty introduced by the unique personality and communication methods of Donald Trump.