President Trump decided this week to taunt China. “We hold the cards”, he said. Trump thinks the tariffs he has put in place on Chinese goods coming into the US has brought billions of dollars into the US economy, and that China is “dying to do a deal with me” because of the hurt being inflicted on the Chinese economy by the tariffs. Chinese exports to the US have fallen 8.5% in the first half of this year, as reported by the New York Times, however infrastructure spending in China has mitigated the reduction in exports. Trump went onto boast that the US economy was doing brilliantly under his administration. True enough, when measured by the performance in the US stock market, the US is roaring ahead of other countries.
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