John Ruich

And that's because Trump imposed 20% tariffs earlier in the year and China responded differently. Since then, though, it's taken the gloves off. Here's Foreign Ministry spokesman Lin Jian speaking through an interpreter earlier today.

And that's because Trump imposed 20% tariffs earlier in the year and China responded differently. Since then, though, it's taken the gloves off. Here's Foreign Ministry spokesman Lin Jian speaking through an interpreter earlier today.

And that's because Trump imposed 20% tariffs earlier in the year and China responded differently. Since then, though, it's taken the gloves off. Here's Foreign Ministry spokesman Lin Jian speaking through an interpreter earlier today.

So in addition to the tariffs that were announced today, Beijing once again blacklisted a handful of U.S. companies, putting them on export control lists or unreliable entity lists.

So in addition to the tariffs that were announced today, Beijing once again blacklisted a handful of U.S. companies, putting them on export control lists or unreliable entity lists.

So in addition to the tariffs that were announced today, Beijing once again blacklisted a handful of U.S. companies, putting them on export control lists or unreliable entity lists.

Well, China's casting this whole thing in kind of stark black and white terms. It's essentially right versus wrong. Beijing projects itself as a champion of free and fair trade now and of multilateralism. And it accuses the U.S. of engaging in selfish and irresponsible protectionism, even blackmail in this case.

Well, China's casting this whole thing in kind of stark black and white terms. It's essentially right versus wrong. Beijing projects itself as a champion of free and fair trade now and of multilateralism. And it accuses the U.S. of engaging in selfish and irresponsible protectionism, even blackmail in this case.

Well, China's casting this whole thing in kind of stark black and white terms. It's essentially right versus wrong. Beijing projects itself as a champion of free and fair trade now and of multilateralism. And it accuses the U.S. of engaging in selfish and irresponsible protectionism, even blackmail in this case.

You know, President Trump said yesterday China wants to make a deal and he's waiting for them to call. Well, China's leadership has also flagged that it's willing to negotiate, but not under duress. The foreign ministry spokesman Lin Jian said the U.S. must adopt an attitude of equality, mutual benefit and respect.

You know, President Trump said yesterday China wants to make a deal and he's waiting for them to call. Well, China's leadership has also flagged that it's willing to negotiate, but not under duress. The foreign ministry spokesman Lin Jian said the U.S. must adopt an attitude of equality, mutual benefit and respect.

You know, President Trump said yesterday China wants to make a deal and he's waiting for them to call. Well, China's leadership has also flagged that it's willing to negotiate, but not under duress. The foreign ministry spokesman Lin Jian said the U.S. must adopt an attitude of equality, mutual benefit and respect.

I mean, ultimately, I think the Chinese leadership believes that China can tough it out and that in the long run, this trade war is going to damage the U.S. more than China. It's worth noting, of course, that China isn't the only country taking the path of retaliation. The European Union is planning to put sanctions on a range of U.S. goods from steel to non-alcoholic beer.

I mean, ultimately, I think the Chinese leadership believes that China can tough it out and that in the long run, this trade war is going to damage the U.S. more than China. It's worth noting, of course, that China isn't the only country taking the path of retaliation. The European Union is planning to put sanctions on a range of U.S. goods from steel to non-alcoholic beer.

I mean, ultimately, I think the Chinese leadership believes that China can tough it out and that in the long run, this trade war is going to damage the U.S. more than China. It's worth noting, of course, that China isn't the only country taking the path of retaliation. The European Union is planning to put sanctions on a range of U.S. goods from steel to non-alcoholic beer.

Yes, there absolutely will be pain from these tariffs and from the retaliation, you know. And that actually sorted the point, according to Guo Shan, who is a partner at the Beijing-based research firm Hutong Research. She says tariffs are basically so high now that meaningful negotiations are impossible until one side or the other cries uncle in caves.

Yes, there absolutely will be pain from these tariffs and from the retaliation, you know. And that actually sorted the point, according to Guo Shan, who is a partner at the Beijing-based research firm Hutong Research. She says tariffs are basically so high now that meaningful negotiations are impossible until one side or the other cries uncle in caves.

Yes, there absolutely will be pain from these tariffs and from the retaliation, you know. And that actually sorted the point, according to Guo Shan, who is a partner at the Beijing-based research firm Hutong Research. She says tariffs are basically so high now that meaningful negotiations are impossible until one side or the other cries uncle in caves.

Escalate to de-escalate is what's happening. She says Beijing has been preparing for this since the first trade war back in 2018. And leadership's confident. You know, China's been doubling down on policies to strengthen its self-sufficiency. Policymakers feel like they have a lot of ammunition for economic stimulus if they should need it. The currency's been allowed to weaken.

Escalate to de-escalate is what's happening. She says Beijing has been preparing for this since the first trade war back in 2018. And leadership's confident. You know, China's been doubling down on policies to strengthen its self-sufficiency. Policymakers feel like they have a lot of ammunition for economic stimulus if they should need it. The currency's been allowed to weaken.