U.S.-China Trade Crisis Heats Up
President Donald Trump's decision to impose tariffs on Chinese goods has contributed to the ongoing trade war between U.S. and China. On Friday, the U.S. announced $200 billion tariffs on Chinese imports, as an effort to pay down the accumulated debt of $21 trillion and to protect the intellectual property of U.S. businesses. In response, China proposed tariffs of $60 billion on US products. US economic adviser Larry Kudlow dismissed China’s actions claiming it was “a weak response to our $200.” The Chinese government stated that it would endure the conflict and sacrifice short-term interests if it meant long term gain. Over the weekend, Trump claimed to have the upper hand on China in regards to the conflict. 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.