Kate Leinbaugh

We have the world's two biggest economies now in a full-blown massive trade war. How can this end and what will it mean for the global economy?

Welcome to The Journal, our show about money, business, and power. I'm Kate Linebaugh. It's Thursday, April 10th. Coming up on the show, how the U.S.-China trade war spun out of control. Going back to Inauguration Day this year, how was China feeling about its relationship to the U.S. ?

Welcome to The Journal, our show about money, business, and power. I'm Kate Linebaugh. It's Thursday, April 10th. Coming up on the show, how the U.S.-China trade war spun out of control. Going back to Inauguration Day this year, how was China feeling about its relationship to the U.S. ?

Welcome to The Journal, our show about money, business, and power. I'm Kate Linebaugh. It's Thursday, April 10th. Coming up on the show, how the U.S.-China trade war spun out of control. Going back to Inauguration Day this year, how was China feeling about its relationship to the U.S. ?

After Inauguration Day, China tried to open up communications with the Trump administration. They knew Trump had promised more tariffs, but China remained hopeful that they could negotiate on trade and still do business. China's foreign minister, Wang Yi, made a phone call to his newly appointed American counterpart, Secretary of State Marco Rubio. Rubio is a known China hawk.

After Inauguration Day, China tried to open up communications with the Trump administration. They knew Trump had promised more tariffs, but China remained hopeful that they could negotiate on trade and still do business. China's foreign minister, Wang Yi, made a phone call to his newly appointed American counterpart, Secretary of State Marco Rubio. Rubio is a known China hawk.

After Inauguration Day, China tried to open up communications with the Trump administration. They knew Trump had promised more tariffs, but China remained hopeful that they could negotiate on trade and still do business. China's foreign minister, Wang Yi, made a phone call to his newly appointed American counterpart, Secretary of State Marco Rubio. Rubio is a known China hawk.

This simple diplomatic introductory call ended well. But it turned out there was something off.

This simple diplomatic introductory call ended well. But it turned out there was something off.

This simple diplomatic introductory call ended well. But it turned out there was something off.

That warning for Rubio to behave himself was touted in China, but it wasn't included in the English translation of the call.

That warning for Rubio to behave himself was touted in China, but it wasn't included in the English translation of the call.

That warning for Rubio to behave himself was touted in China, but it wasn't included in the English translation of the call.

Then, in early February, Trump hit China with 10% tariffs across the board. China's response was relatively mild, answering back with similar-sized tariffs on specific U.S. imports.

Then, in early February, Trump hit China with 10% tariffs across the board. China's response was relatively mild, answering back with similar-sized tariffs on specific U.S. imports.

Then, in early February, Trump hit China with 10% tariffs across the board. China's response was relatively mild, answering back with similar-sized tariffs on specific U.S. imports.

Do you have examples?

Do you have examples?

Do you have examples?

According to one of Ling Ling's sources, Waltz didn't meet with Wang Yi, in part because of that warning that had been delivered to Rubio. The Chinese pursued other avenues into the administration and also had no luck. The Chinese ambassador to Washington had tried to engage with Elon Musk and failed. The Chinese commerce minister wrote letters to the U.S. Commerce Secretary and the U.S.