Since the Donald Trump’s administration took office in January 2017, the goods trade deficit with the rest of the world has subtracted $1.6 trillion from the U.S. economy. About half of that — $760 billion — was a net wealth transfer to China on goods trade, with assorted technologies and liberal access to U.S. markets.
The disruption at the mouth of the Mississippi is an acute result of the US-China trade war. After US President Donald Trump imposed new tariffs on Chinese goods, Beijing punched back with duties on US exports including most of its $20bn in agricultural commodity sales.
China is beginning to flesh out details of a weekend tariff truce with the U.S., after days of vague Chinese statements and a barrage of comments from President Trump and other administration officials.