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Trump just blinked, giving China a possible edge in trade war, Jim Chanos and others say

2019-08-14 08:45:35       source:CNBC

August 13, 2019

In backing off on China tariffs Tuesday, President Donald Trump showed just how much pain the U.S. could tolerate — and China may use that to its advantage, key voices on Wall Street say.

Markets rallied on the announcement by the U.S. Trade Representative office that certain items were being removed from the new tariff list, while duties on others would be delayed until mid-December.

The short-seller Jim Chanos, who tweets under the alter ego “Diogenes,” hinted that Chinese President Xi Jinping may take this as a sign that the U.S. may cave with enough pressure.

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