About a month ago, there was a 150 page trade agreement ready to be signed between the US and RC. The night before the scheduled signature, the RC withdrew about 50 pages that referenced numbers. So, all you had was unenforceable principles (vapid promises). If you conclude that RC acted in bad faith, yes. So, RC sent a delegation over to the US and demanded to start over again, with all the imposed tariffs to be withdrawn as a pre-condition. Demand refused. Now, for behind the scenes. RC pays for oil products and agricultural goods in dollars. The local currency is not accepted internationally. The RC rule is that when a Chinese company makes money and brings dollars to RC, it must sell those dollars to the RC central bank. So, if you were an RC businessman, you would not send the dollars to RC, you would buy houses in CA, British Columbia and keep the dollars outside RC. The strain of not having dollars is evident. RC has tried to clamp down on companies not sending the dollars back to RC. It has stopped buying US treasury obligations because it doesn't have the spare dollars. It is estimated that if RC businessmen could freely take their money out of RC, the value of the local currency would drop 30-40%. So, the RC inflation would be terrible. Another self-generated problem is that Xi just pushed through a measure making Mandarin Chinese mandatory. This pisses off the millions who speak Cantonese and whose relatives are scattered throughout SE Asia. RC will break and make the deal which it refused to sign. A big deal has been made about RC stopping buying US agricultural goods. Has not really happened. Wheat/soybeans/corn are fungible goods. Put on your thinking cap. 1. if RC really stops buying fungible US produced crops, it requires more dollars to buy the same quantity elsewhere. 2. if Iran/NK has smart enough people to get around US embargoes on oil and international trade, US exporters and RC importers have the same intelligence and capabilities. My soybeans may not be sold directly to an RC importer this season. They will sold to a Brazilian middle man who uses a Panamanian flagged ship to deliver the soybeans to RC.