Three cheers for Sen. Chuck Grassley and his Twitter feed -- pressing the President to do what's right for Iowa (and the country) by securing NAFTA for the benefit of American exporters (and consumers, too!):
In related news, China disclaims any plans to cut its trade surplus with the US. American authorities claimed that China had agreed to cut its trade surplus to the United States by $200 billion. Chinese outlets with quasi-official government status have declared to the contrary.
A $200 billion cut would be large and dramatic -- not to mention difficult for both economies to accommodate. It's hard to imagine China voluntarily reducing its economic output by $145 per person without some kind of massive compensation in return. And it's almost certain that such cuts would have a huge impact on both the US consumer and producer markets.