WASHINGTON — Much of the world breathed a sigh of relief on Monday when the U.S. and China agreed to reduce tariffs on each other by 115 percentage points. The two countries will now, according to the White House, work “toward a rebalancing.”
This rebalancing involves not only the Sino-U.S. trade war but also currency and fiscal challenges amid a backdrop of growing concerns over the dollar’s global reserve currency status.
