Trump tightens the screws on Chinese giants by shutting 87-year-old loophole

Removing Permanent Normal Trade Relations with China is a very radical and extreme step that would remove any guardrails against a trade war,

Shirk said

The Republicans won't pass the bill (to repeal the PNTR) until Trump tells them to pass it,

said Derek Scissors, a senior fellow at the American Enterprise Institute

Every year it gets closer to being repealed because it doesn't make sense, ... as China does not play by global trade rules

said Jim Lewis, a senior vice president at the Center for Strategic and International Studies

Most market participants have been preparing for such tariff headlines since the U.S. election and intuitively understand that Tariffs 2.0 will be used by the Trump Administration for policies beyond just trade (e.g., immigration, national security, foreign policies),

Lakos-Bujas said in a note to clients