International trade

China figures out how to live without U.S. lobster and soybeans

Soy farming in Owings, MD, which already sells its crop to U.S. chicken farmers. Photo: Mark Wilson/Getty

Three weeks ahead of a meeting between President Trump and China's Xi Jinping, Beijing is notching record exports and figuring out how to manage without American goods.

Why it matters: Despite tariffs on $250 billion in Chinese goods, Trump has appeared to fail to budge Xi on his determination to do whatever it takes to dominate the technologies of the future.

Trump’s push to raise drug prices abroad

President Trump standing in front of a microphone
Photo: Scott Olson/Getty Images

The Trump administration’s latest move on drug prices is designed in part to raise prices in Europe. And that’s not the first time the White House has focused on raising prices abroad — the recent trade deal with Canada and Mexico could as well.

"Both could, at least plausibly, address the president’s stated goal of increasing how much other countries pay for drugs," says Benedic Ippolito of the American Enterprise Institute.

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