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sent a beautiful letter to President Trump describing how this “very fair concession will make America MUCH STRONGER, not weaker.” He invited Mr. Trump to “Just sit back and watch!” while China “Trades kindness!”
•The Chinese government will stop all exports to the U.S. while President Xi evaluates various concessions and possible retaliatory action. According to China’s vice premier Liu He, who represented China in U.S. trade talks, “We sit in dark before dawn, hang in there, hope Trump keep head cool, we not flinch, wait Trump out, have plenty time.” Mr. Liu disclosed that tariff complexities were likely to extend
a final trade deal well into 2020, perhaps 2021, depending upon the odds from election bookmakers.
The prestigious American Economic Association (AEA), representing 18,000 academic and business economists, predicts that the U.S. economy will collapse within weeks of an export strike by the Chinese government. Olivier Blanchard, the AEA’s current president, placed an urgent telephone call to President Trump, pleading with him to change course immediately in order to head off an irrefutable economic catastrophe. Reportedly, Mr. Trump listened impatiently, and ended the conversation with “I don’t care” or words to that effect.
This story will be updated as new information becomes available.