"There is always a certain hour of the day and of the night when a man’s courage is at its lowest ebb, and it was that hour only that he feared."

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When China got into the WTO, that allowed it to sell into any other country within the WTO - not just the United States - at the lowest tariffs that country offered. And the other countries could sell into China at the lowest tariffs that China offered. The problem, right off the bat, was that China had much higher tariffs than everywhere else, so the U.S. and Europe in particular got the short end of that stick.

— Peter Navarro