Here is Donald Trump’s art of the self-harming deal. First, demand China eliminate its surplus with America, otherwise you will start a trade war. Second, ensure your negotiating team is divided and confused. Third, capitulate after China offers a few meaningless pledges — as the Trump administration did last weekend.
Next, discover in a rage that you have been hoodwinked. Finally, resume incendiary threats of a trade war.
Mr Trump has yet to take those last steps. But as night follows day, he will. It is Mr Trump’s basic dialectic — threats followed by conciliation followed by rage followed by threats. Wash, rinse and repeat.
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