News Snapshot:
WASHINGTON (BLOOMBERG) - Starting in early last year, a very unlikely anomaly started appearing in global trade data: Beijing said it was selling more goods to the United States than America reported buying from China. That was a reversal of the normal pattern and a product of the two nations' trade war - but not an intended consequence. Instead, it was likely due to misreporting by both exporters in China and importers in the US, according to new research from Federal Reserve economists. Companies in the US could pay less in tariffs if they under-reported the value of goods imported...
