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China isn’t killing the US in trade by as much as we think

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• A trade war is brewing between the US and China. 
• The US-China trade balance misses hundreds of billions of sales made through offshore subsidiaries. 
• Tariffs could hurt both sides more than the record-high US trade deficit with China suggests. 

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President Donald Trump loves to hate the trade deficit the US runs with China — even using it to promote a trade war between the two countries — but he could be missing a huge point. 

On the campaign trail, Trump called trade policies with Beijing the "greatest theft in the history of the world." And earlier this month, he used the deficit as supposed evidence that trade wars are "easy to win" in a tweet widely seen as referencing China. 
See the rest of the story at Business Insider

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SEE ALSO: Dow plummets more than 700 points as Trump's China tariffs ignite fears of trade war

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