My guess is that the bankers and CEOs of Wal-Mart and Target signaled that pursuing the hardline would be catastrophic.
Precisely.
You want to side with doing your business with Communist China instead of the United States of America?
Good luck with that.
My guess is China is admitting they cannot sustain the damage. They are probably seeking a “face saving” way out.
According to the Fair/No traders China pays slave wages and sells below cost. So if China does any sell to us they would actually stem their losses.
Anyway, the rift between the Fair/No traders and Trump/MAGA just got wider.
Be interesting to see how this is spun as Trump not capitulating or how I don’t understand 4D chess with glass boards. At least I haven’t heard any of the “Trust the Plan” that was spouted during his last term.