Natalie Kitroweth
👤 SpeakerAppearances Over Time
Podcast Appearances
Keith, I knew you were one of the OG economics reporters at The New York Times, but in preparing for this conversation, I learned a few amazing facts about you that I just want to share.
Keith, I knew you were one of the OG economics reporters at The New York Times, but in preparing for this conversation, I learned a few amazing facts about you that I just want to share.
You've covered dozens of trade deals, including writing 150 times about the negotiation of NAFTA alone. I want to call you the Bill Nye of trade. I don't know if they'll let me do that. You've been reporting in China for 23 years. You were one of the very few American journalists who stayed there through the pandemic. And for some reason, this is your first time on the show. So welcome, Keith.
You've covered dozens of trade deals, including writing 150 times about the negotiation of NAFTA alone. I want to call you the Bill Nye of trade. I don't know if they'll let me do that. You've been reporting in China for 23 years. You were one of the very few American journalists who stayed there through the pandemic. And for some reason, this is your first time on the show. So welcome, Keith.
Original gangster.
Original gangster.
It's an honor. It's a distinction you've earned.
It's an honor. It's a distinction you've earned.
OK. So where we find you now is that a trade war between the U.S. and China escalated last week with Trump imposing new tariffs on China. And we thought this would be a good time to really try to understand the nature of this problem between the U.S. and China with one single number at the core.
OK. So where we find you now is that a trade war between the U.S. and China escalated last week with Trump imposing new tariffs on China. And we thought this would be a good time to really try to understand the nature of this problem between the U.S. and China with one single number at the core.
And just quickly explain for me why a $1 trillion trade surplus is such a big deal.
And just quickly explain for me why a $1 trillion trade surplus is such a big deal.
We're going to get into how China's done that, but I just want to pause on Trump for a second here. Because what I'm hearing is that when Trump talks about China and the U.S. trade deficit, he's actually wrong to highlight it.
We're going to get into how China's done that, but I just want to pause on Trump for a second here. Because what I'm hearing is that when Trump talks about China and the U.S. trade deficit, he's actually wrong to highlight it.
Okay, so Trump has been complaining about this since the 1980s. But aren't there advantages to free trade? I'm thinking of lower prices for consumers, for example, which have come specifically from free trade with China.
Okay, so Trump has been complaining about this since the 1980s. But aren't there advantages to free trade? I'm thinking of lower prices for consumers, for example, which have come specifically from free trade with China.
Got it. So that's the background here, just how reliant the U.S. is on China for things that we might need in a crisis. Now let's get into the trillion-dollar trade surplus.
Got it. So that's the background here, just how reliant the U.S. is on China for things that we might need in a crisis. Now let's get into the trillion-dollar trade surplus.