While the best trade war strategy is to not have a trade war, this seems to no longer be an option. In their new book 'How to Win a Trade War' the goal of Soumaya Keynes and Chad Bown is to “… arm you with the knowledge to fight [because] these battles are going to last for a very long time.” Soumaya and Chad join EconoFact Chats to discuss the effects of the rise of China in the world trading system, the policy approaches taken by the United States, the European Union, and other countries, the role of multinational corporations, the intersection of trade and national security, and the efficacy of defensive policies (like limiting dependence on foreign goods) and offensive strategies (like tariffs).

Soumaya Keynes is an economics columnist at the Financial Times and host of The Economics Show with Soumaya Keynes. Chad Bown is a senior fellow at the Peterson Institute for International Economics and served as Chief Economist at the State Department in the Biden administration.