Looks like the US and China were just about ready to come to a trade agreement when at the last minute China pulled out on a few key specifics crucial to the deal. They have constantly pulled this tactic at the last minute with US in the past, however, this time it looks like there will be a penalty to pay.
https://www.apnews.com/e8a5195c21af44e5b783082366cc2f29
https://www.apnews.com/e8a5195c21af44e5b783082366cc2f29
Comment