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https://www.cnbc.com/2018/06/19/trump-is-wrong-on-tariffs-and-trade-just-look-at-his-iphone.html

The Apple iPhone shows that Trump is misreading trade deficits and what they mean

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Newton’s law tells us that every action has an equal and opposite reaction. The economic equivalent holds that additional PBOC easing risks provoking a similar dynamic from the Trump White House. In fact, the odds favor an even bigger one as China’s currency slides in response.

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