NBER WP by Wang, Wei, Yu, and Zhu:
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US Gets China to Agree to What It Was Going to Do Anyway
From NYT:
In a significant concession, Mr. Trump will postpone a plan to raise tariffs on $200 billion worth of Chinese goods to 25 percent, from 10 percent, on Jan. 1. The Chinese agreed to an unspecified increase in their purchases of American industrial, energy and agricultural products, which Beijing hit with retaliatory tariffs after Mr. Trump targeted everything from steel to consumer electronics.
So…Tired…of…Winning (Trade Deficit Edition)
I’m using Mr. Trump’s definition. Trade deficit overall (NIPA definition) and bilateral with China both increasing.
This Doesn’t Look Like a China Getting Ready to Capitulate to Trump
From Bloomberg:
Source: Bloomberg, 21 November 2018.
Just sayin’…
Side observation: From my reading of the article, the Chinese approach to “freedom of the financial press” is very Trumpian. Or alternatively, the Trump approach to freedom of the press is very Xi-ian.
Q3 Chinese Growth
N. Dakota “orphan soybeans” at 236 million bushels
That’s from WaPo. In 2017, the US exported 1.2 billion bushels to China: North Dakota’s orphan soybeans today are nearly 1/5 of total sales to China in 2017…
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You Ain’t Seen Nothing Yet
Taxes announced, proposed, on Chinese imported goods. Or, shoot yourself in the foot edition.
JP Morgan Chase: “U.S.-China endgame involving 25 percent U.S. tariffs on all Chinese goods in 2019”
That’s according to Bloomberg.
Learning from History and Modeling: Chinese Trade Retaliation Choices
An interesting symposium in the 2nd Quarter 2018 issue of Choices, published by the Agricultural and Applied Economics Association, deals with the impact of Chinese trade retaliation aimed against US agricultural exports.
Guest Contribution: “Trump Renews Charges of Chinese Currency Manipulation”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared in Project Syndicate.