Trade tensions between the US and China continue to escalate.

Chinese exports to the US are down 18% from their recent peak.

At the same time, Chinese exports to the rest of the world are down just 4% from their recent peak.

This week, President Biden and Chinese President Xi will meet for the first time in a year.

The resumption of the trade war between the US and China, which may have already begun, will be a serious obstacle in the fight against inflation.

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