News Snapshot:
Hunter L. Clark and Anna Wong The United States' bilateral goods trade deficit with China appeared to have narrowed substantially since the escalation of the U.S.-China trade conflict in 2018, or so U.S. trade data suggest. By contrast, the Chinese data tell a much different story: the deficit, as implied by China's bilateral surplus, nearly reached historical highs by the end of 2020. Historically, the discrepancy between these trade balance figures had remained fairly predictable and stable. But with the onset of the trade conflict, U.S.-reported import values from China have fallen more sharply than the China-reported export values to...
