US trade representative Lighthizer:
- US can compete if conditions are fair
- Scale of China's effort to subsidize industries is a threat to the world trading system
- He and Trump believe that trade deficits matter
- He and Trump believe US should be more proactive in trade policy, demand reciprocity
- "We will have a change in trade policy"
Lots of bluster here but markets are at the 'show me' phase with tough talk from the Trump admin.
