“Senior administration officials tell Axios that a trade deal with China isn’t close and that the U.S. could be in for a long trade war.”
“A senior administration official said the differences between the two sides are so profound that, based on his read of the situation, he can’t see the fight getting resolved before the end of the year.”
One former aide said there’s little point trying to persuade Trump that China doesn’t actually pay the tariffs, because that’s what he believes: “It’s like theology.”
Tim O’Brien: “As China and the U.S. dig in for what may become a protracted and possibly very painful trade war, a lot of time is being wasted trying to divine whether President Trump has a strategy.”