… China is unsatisfied with the degree of accommodation offered by the US and the US is uncomfortable with the strategic demands made by China … US wants China to reduce its trade deficit … an unrealistic request given the time it would take to adjust supply chains and given the US consumers' demand for Chinese products … and that China opens up more sectors to investment and trade without restriction ... America holds almost all the high cards in trade with China, and almost none of Beijing’s supposed points of pressure are real threats.