Talk of a “trade truce” is once again threatening to disrupt U.S. attempts to rein in China’s predatory economic practices. The United States and China are “exploring” a trade deal in which the Trump administration would hold off on imposing new tariffs or raising existing ones in exchange for “new talks,” officials from both governments told the Wall Street Journal.The Trump administration is divided into rival camps when it comes to China. The Trucers include Treasury Secretary Steven Mnuchin, many Treasury staffers, and National Economic Council director Larry Kudlow. They are opposed by China hawks who include U.S. Trade Representative Robert Lighthizer, National Security adviser John Bolton, many National Security officials, and White House trade adviser Peter Navarro. Trump has left it unclear where he stands. He frequently sides with the China hawks in discussions of trade policy, according to people familiar with the matter. But before departing for Buenos Aires, the president said president the U.S. and China are “very close” to a trade deal, “I don’t know if we want to do it. I’m open to making a deal, but frankly, I like the deal we have now,” he said. The Wall Street Journal reports: New talks would focus on what… Read full this story
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