In the early days of President Trump’s second term, China was ready to negotiate on trade. Then came Liberation Day. Now China is ready with a trade war arsenal taking aim at U.S. companies. WSJ’s Lingling Wei explains how China is gearing up for an extraordinary conflict with no immediate exits. Kate Linebaugh hosts. Further Listening: - Trump’s Tariffs Force a New Era in Global Trade - The Trade War With China Is On Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
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In the last week, the U.S.-China trade war has spiraled. It started in the Rose Garden.
We're going to be charging a discounted reciprocal tariff of 34%. I think, in other words, they charge us, we charge them. We do have some breaking news right now from China.
And China hit back. China announcing retaliatory tariffs of 34%, effective April 10th. Then the U.S. countered China's counter-retaliation.
Now a 104% tariff on Chinese imports.
Then China countered the U.S. 's counter-counter-retaliation.
An 84% hit on all U.S. goods coming into China.
And then yesterday, President Trump paused tariffs on most other countries, with one big exception.
The tariff on China will now go up to 125% because China imprudently decided to retaliate against the United States.
There has been quite a sense of shock, frustration, and anger in Beijing. That's our colleague Lingling Wei.
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