China and U.S. Might Soon Learn Who’s on Top in Trade War
Last week President Trump imposed a 10% tariff on $200 billion worth of Chinese goods, intensifying his trade war against China. He explained that “China’s been taking advantage of the United States for a long time” saying that the tariff might increase to 25% in 2019. Beijing has responded by imposing their own levies on American goods. In his statement announcing the tariffs, President Trump said, “Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection.” However, it is still unclear whether either side will back down from this trade war. To discuss future U.S.-China relations, we're joined by Phil Levy, senior fellow on the global economy at the Chicago Council on Global Affairs.