After months of optimistic comments from both the US and China that a trade deal is just around the corner, that narrative was turned on its head earlier this week, after President Trump threatened to impose more tariffs by Friday. It seems China attempted to renegotiate some points at the ‘last minute’, infuriating the US administration, which saw that as backpedaling on earlier promises. Trump therefore decided to ramp up the pressure, reverting back to his original methods of ‘raising the stakes’ to generate negotiating leverage and force concessions. The threat was that the existing tariffs on $200bn worth of ... (full story)