Trump wants to form an alliance to retaliate against China
Equity futures have drifted a bit lower and there was a brief drop in commodity currencies on a report in the WSJ saying White House officials are pushing for new measures against China.
The most ambitious effort would create an informal alliance of Western nations to jointly retaliate when China uses its trading power to coerce countries, administration officials said.
This is a bit rich from a country that abandoned multi-lateralism a long time ago. I can't see countries signing up for a Trump-led effort with him less than two months away from an exit.
This would be big news if Trump had won the election or Biden was leading it, but it's not likely to go anywhere with this administration.
