(Washington)

Trump’s tariffs are having a major impact on the US’ trading relationships. The data has been showing such, but now there is a very significant data point: China is no longer the US’ largest trading partner. Mexico has now assumed that position. The decline in trade with China comes alongside an escalating trade war that has seen tariff hikes and restrictions on both sides.

FINSUM: We are now officially of the position that this trade war with China will not be resolved any time soon, so this decline in trading seems to be the end of an era.