ブランシャールが関税の日米合意についてツイートしている。 On the Japan so called deal (diktat?). Trump can win many fights, but one thing he cannot do is win fights against accounting identities. Trade deals, whatever they do, cannot, as claimed, simultaneously reduce the US current account deficit, and increase net capital flows to the US. The reason: current account deficit = net capital flows. Thank you for your attention