, 8 tweets, 2 min read
Exports fell 3.2% in September, which was worse than Bloomberg analysts expectations of 2.8% and imports fell 8.5% year on year.

Mnuchin’s commitment to keeping tariffs on the table comes days after President Trump announced a “fundamental agreement in principle” for a “phase one deal” following a round of renewed high-level negotiations.

“China hasn’t confirmed elements of deal touted by Trump”

"In the absence of an actual text it is difficult to judge the significance of all this,"

"The envisaged mini-deal, which still needs to be codified, probably does not suffice to end the global downturn on its own. It seems to be too limited for that,"
If there's a lesson here, it may be that you should be careful how far you go in imposing your own will on other countries when you're in power...

..Eventually, someone else will be in power, and what you once did will set the norms for what they can do now.
"US businesses will continue to struggle under the burden of tariffs and uncertainty in supply chains,"

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