U.S., China Rattle Trade-War Sabers in Vowing Crippling Tariffs

The transcript discusses the escalating trade war between the US and China, highlighting the imposition of tariffs on Chinese goods and the potential for further tariffs if China retaliates. It notes the limited role of Congress in resolving the issue, despite some business groups lobbying for increased oversight. The transcript also explores China's influence over North Korea and its strategic position in trade negotiations with the US, emphasizing the delicate balance China must maintain in its diplomatic relations.

What was Treasury Secretary Steven Mnuchin's initial prediction about the trade war?

• It would be resolved quickly.

• It would be on hold.

• It would not affect the US economy.

• It would escalate rapidly.

What is the current sentiment in Congress regarding the trade war with China?

• Mixed feelings with some support for punishing China.

• Complete opposition to any trade measures.

• Desire to immediately end all tariffs.

• Strong support for increasing tariffs.

What is one reason Congress has not taken significant action on the trade war?

• Complete agreement with the President's policies.

• Lack of interest in international trade.

• Strong bipartisan support for tariffs.

• Concerns over national security issues with Chinese products.

How does China's relationship with North Korea affect its position in trade talks with the US?

• It has no impact on trade talks.

• It forces China to concede to US demands.

• It strengthens China's leverage.

• It weakens China's negotiating power.

What is a potential consequence for the US if China uses its leverage in trade talks?

• The US may face challenges in its North Korea policy.

• The US will easily resolve the trade war.

• The US will have to increase tariffs further.

• The US will gain more trading partners.