Keith Bradsher

So the goal of having tariffs is to provide some shelter from this vast influx of Chinese goods while American manufacturing begins to find its feet again.

But that is a very difficult task.

What we've learned from Trump's year of steep tariffs on imports is that tariffs by themselves have not yet produced a big, broad revitalization of the American manufacturing sector.

But that doesn't mean that tariffs are a bad idea.

What it means is that many economists now say tariffs should only be part of a broader range of measures, strengthening the training of American workers, helping companies invest in the latest technologies, working with other countries to prevent their being used as simply pass-throughs for inexpensive Chinese goods.

taking a broader look at what is needed to revitalize American manufacturing at a time when the United States does have very real national security concerns, given China's very close relationships with Russia, with Iran, with North Korea, with many governments that the United States is worried about.

Thank you so much.

Always good to talk to you, Natalie.

The relationship is at one of its tensest moments in years.

Both sides have threatened measures bordering on economic warfare against each other.

There's an urgency to resolving these issues at the meeting on Thursday in South Korea between the two countries' top leaders.

Here in Beijing, everyone is watching to see can they reach some kind of a deal that pulls both countries back from the brink.

The United States wants China to start buying soybeans again.

China has a boycott against American soybeans right now because of its unhappiness with American policies.

The United States wants China to stop shipping the chemicals that are used in Mexico and Latin America to make fentanyl.

China wants the United States to allow it to buy any kinds of semiconductors it wants, including some of the most advanced semiconductors used in artificial intelligence and high-performance military systems.

And China in particular wants America to distance itself from Taiwan, although America depends enormously on Taiwan for semiconductors.

But hanging over all of these issues

is a big debate over rare earth metals.

China is threatening to cut off much of the world's supply, and it's saying that it will block any effort outside of China to manufacture rare earths and rare earth magnets in competition with China.