Jonathan Chait: “President Trump is in the midst of a public meltdown that is humiliating, scary, and banana republic–y even by Trumpy standards. The reason is that Trump started a trade war and China refuses to back down, having announced this morning that it is imposing retaliatory tariffs on $75 billion worth of U.S. goods.”
“Trump has picked fights with lots of countries. Usually they either placate him or try to give him a face-saving way of de-escalating (e.g., Mexico, which is never going to pay for the wall but doesn’t talk about the fact that it’s never going to pay for the wall anymore). Sometimes they get Trump to fold by stroking his ego (the North Koreans have carried out the most over-the-top version of this tactic).”
“China is playing it differently.”
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