Is the US actually too chicken to take on China for trade?

A weak yuan guarantees Beijing massive trade surplus even as the White House tries tamp down on Chinese imports Since China offered a truce in the trade war last October following its threat to deprive the United States of rare-earth magnets, the Trump administration has been happy to stop escalating.

After all, imports from China have been falling, down by 40% in the year to June, compared with the same period in 2024.

Best to declare victory and call it a day.

But the US hasn’t won this battle – and there’s strong evidence to show it’s too chicken to really try.

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