President Trump has showed no signs of backing down from a possible trade confrontation, even as the markets remain volatile.
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!— Donald J. Trump (@realDonaldTrump) April 4, 2018
The Chinese seem to think otherwise and announced plans to match the president's tariffs.
But intellectual property might be the bigger issue here, says Gordon Chang, China expert, lawyer and author of The Coming Collapse of China.
Listen to the clip above for more on that. And then listen to the whole podcast below as Chang reminds us that China needs up more than we need them. "88.8% of their sales came to US," says Chang. "Plus we have a much larger economy, more stable economy."
So listen to the full podcast on Soundcloud.