Donald Trump is losing the trade war on China, which he started. The agreement he made at the meeting with President Xi Jinping shows how the US is much more dependent on the Chinese economy than vice versa. Political economist Ben Norton explains how Trump's tariffs have hurt American workers, especially farmers, while China advances as a new technological and manufacturing superpower.
Topics
0:00 Trump's meeting with Xi Jinping
1:07 China successfully defends itself
2:58 China is a new "economic superpower"
4:04 This is a one-year "tactical detente"
4:47 Details of Trump-Xi agreement
6:20 Trump undoes "self-inflicted" damage
7:02 Scott Bessent claimed China had "losing hand"
7:40 China is less dependent on US economy
8:24 Analyzing US-China trade
9:59 USA is dependent on Chinese tech
11:06 China is a manufacturing superpower
12:08 China's domestic revenue vs exports
13:43 Bipartisan US trade war
14:30 One-year trade truce
15:40 US midterm elections coming up in 2026
16:12 Poll: Republicans (and Dems) are unpopular
16:48 Trump's low approval rating of 39%
17:27 US consumers pay for Trump's tariffs
18:54 Inflation and US economic problems
20:58 US manufacturing jobs decline
22:32 Soybean war: Trump's tariffs hurt farmers
24:38 China buys soybeans from Latin America
25:25 Trump's bailout of farmers
27:24 China's rare earth dominance
28:58 US industry needs China's rare earths
30:40 Chip war: US semiconductor restrictions
31:54 China develops domestic chip industry
33:40 China's new 5-year plan pushes tech
34:31 Made in China 2025 industrial policy
35:45 China leads in critical technologies
37:22 China's "technological self-reliance"
38:25 USA is losing trade war
39:25 Outro
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