At the World Economic Forum today, both President Trump and EU Trade Commissioner Maroš Šefčovič offered comments on some big picture questions surrounding trade relations with China, with Trump complaining about trade deficits and unfairness and Šefčovič also noting concerns with trade imbalances.

Weighing in on the debate about trade imbalances, a group of IMF economists has released a report arguing that these imbalances are driven by macroeconomic forces rather than trade and industrial policies.