In this episode of Tea Leaves, Rexon Ryu and Tiffany Ma are joined by Dr. Mira Rapp-Hooper, head of The Asia Group’s Geopolitics Practice, and Dr. Evan Medeiros to assess where things stand nearly two weeks after April 2’s “Liberation Day” tariff announcement. They unpack the escalation from sector-specific tariffs to looming reciprocal measures and examine the U.S.-China trade standoff. Dr. Medeiros leads a discussion on why this round of the trade war marks a more entrenched phase of an economic standoff, China’s confident posture and retaliation strategy, and what it all means for businesses navigating the fallout. The team also explores the structure of ongoing negotiations and how trade talks are increasingly intertwined with broader strategic issues.