The unfolding trade war is definitely not a trade war, the Trump administration continues to confusingly insist. President Trump reiterated Wednesday that "we are not in a trade war with China," despite having asserted last month that "trade wars are good and easy to win."
The president's own commerce secretary, Wilbur Ross, even expressed bafflement Wednesday morning that everyone is in a tizzy about the escalating tensions between the U.S. and China, the world's two biggest economies, Axios reports. "I'm a little surprised that Wall Street is surprised by" China retaliating for newly proposed U.S. tariffs, Ross said on CNBC — basically defining what a trade war is. "This has been telegraphed for weeks."
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