Here’s how I see it breaking down based on Trump’s comments over the last few weeks but especially recently.

At some point, like about two weeks from now, Trump will role out his deal with the world.

It will dived everyone except China into three groups at three different base tariff levels.

Each country will have a set of issues that if resolved could graduate them into the next more favorable tier.

Once the tiers are set, that’s when Trump will listen to offers from countries looking to acheive more favorable relations.

“Not chaotic” “Flexible”

China will be its own tier, higher than everyone else but much lower than today.

Their hurdles will be harder to achieve and require time to prove their commitment to reform.

THE RECONNING