Quote:The IMF study says tariff revenue collected from levies on Chinese goods “has been borne almost entirely” by U.S. importers. China and the U.S. have been engaged in a trade war for more than a year. In that time, they have targeted billions of dollars worth of goods with high import tariffs. President Donald Trump claimed on May 8 that the higher levies on Chinese goods are “filling U.S. coffers” to the tune of $100 billion per year. But the IMF says the bilateral trade deficit between China and the U.S. remains “broadly unchanged” even with the tariffs.US tariffs on China have been paid almost entirely by US importers: IMF
Quote:China has run a small-scale test of the “nuclear option” in its trade war with the US by selling $20 billion of US government debt. If China sold its $1.2 trillion in US Treasurys, it could raise America’s borrowing costs, weaken the US dollar, and plunge global markets into chaos. However, a fire sale would strengthen the yuan, making Chinese exports less attractive, and could spin the currency out of control.China just tested its 'nuclear option' in the trade war
Quote:May U.S. PMI Composite Flash: 50.8 vs. 52.4 consensus 52.8 prior. Manufacturing PMI 50.6 vs. 52.3 consensus, 52.4 prior. Services PMI 50.9 vs. 52.8 consensus, 52.9 prior.U.S. PMI composite flash at 36-month low | Seeking Alpha