After all the build-up to the big meeting, the Americans said they would suspend further imposition of new tariffs for 90 days to give the Chinese time to come up with solutions to the deepening conflict?
Ninety days might provide a few more sales of U.S. products to China and there could be some policy announcements that dance around the corners of the real problem. Namely, that China is either developing or stealing the technology to challenge America economically and militarily. Everything else is child’s play in comparison.
Will 90 days allow for any real change in that? Of course not. “Are the Chinese going to change their development model in the next 90 days? No,” said Derek Scissors, a China specialist at the American Enterprise Institute in Washington.
By the way, the Chinese did not publicly acknowledge any kind of 90-day period.
My best guess is that the pro-Wall Street wing within the administration, led by Treasury Secretary Steven Mnunchin won the fight for the president’s ear by warning about share prices tanking if Trump pushed harder into confrontation. Wall Street today is very happy, but then Wall Street thinks only day to day. It has no solution for the real underlying problems.
