On the Margin: Well, We Said "Brace Yourself"
Donald Luskin deems the recent U.S./China trade negotiations a "breakthrough". Warns Luskin, “brace yourself. This is going to go on for a while. Game theory dictates that any negotiation must go all the way to its deadline, and usually a little beyond. That means three months of the media and the 'Washington shops' telling you there can be no deal and never was going to be a deal — right up until the moment there is a deal."
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