Don’t believe the doves: US trade disputes are likely to escalate after the midterms



Michael Ivanovitch | CNBC

Last year, China and the European Union accounted for 53 percent of the American merchandise trade deficit. In the first eight months of this year, their U.S. business continued to flourish and the combined Chinese and European surpluses came in at two-thirds of the U.S. trade gap. The U.S. deficits will worsen in the forthcoming holiday season as retailers step up overseas purchases to stock up for the most active selling months of the year. Read more here