China Calls Trump’s Bluff

New York Times: “Chinese negotiators left Washington this weekend with a significant win: a willingness by the Trump administration to hold off for now on imposing tariffs on up to $150 billion in Chinese imports. China gave up little in return, spurning the administration’s nudges for a concrete commitment to buy more goods from the United States, and avoiding limits on its efforts to build new high-tech Chinese industries.”

“The trade fight is far from over. And large Chinese technology companies in particular could be vulnerable if the United States starts punching again, with administration officials appearing to back away from Mr. Trump’s pledges to help ZTE, a Chinese telecommunications company hit with severe American penalties.”

“Still, the latest round of negotiations showed that a confident China could be more than a match for divided American officials who have made often discordant demands.”