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."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Why Man United finally lost patience with ten HagTalking Point After another loss United sacked ten Hag in hopes of success in the Champion's League
-
Who are the markets backing in the US election?Talking Point Speculators are piling in on the Trump trade. A Harris victory would come as a surprise
-
Crossword: November 3, 2024The Week's daily crossword
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
