Not in China's Interest to Inflict Massive U.S. Trade Pain, Says Carr

The transcript discusses China's strategic considerations regarding the US, particularly around the timing of actions that could impact the Trump administration before midterm elections. It highlights China's preference for resolving issues through talks rather than inflicting pain, as this aligns with their interests. The importance of stabilizing the currency above a certain level to avoid negative international sentiment is also discussed. Additionally, China's offers to address the trade deficit and reduce tariffs are mentioned, though the specifics of what Trump wants remain unclear.

What potential consequences are mentioned if the currency breaks through the seven level?

What is the unknown question regarding the deal that the Trump administration wants?