China Warns No Winners in U.S.-China Trade War

Chinese Foreign Ministry Spokesperson Mao Ning emphasized that trade and tariff wars yield no winners, responding to U.S. President Trump's recent tariffs on steel and aluminum imports and asserting that China will protect its interests. In the U.S., economic commentator Peter Schiff highlighted a turbulent week for the economy marked by significant stock market declines and a weakened dollar, attributing these issues partly to Trump's tariff policies and geopolitical tensions. Schiff warned that these economic challenges could be exacerbated by Trump's rhetoric on NATO and urged investors to consider foreign equities as a safeguard against domestic instability. Meanwhile, some supporters argue that tariffs are necessary for protecting American jobs and industries, despite criticism labeling these views as lacking a fundamental understanding of economics. They contend that historical precedents show tariffs can benefit the economy, particularly when combined with tax cuts and deregulation, challenging the prevailing narrative against such measures.