What began as Donald Trump’s sweeping trade war against much of the world has sharpened into a tense standoff between two global giants: the United States and China. While Trump eased or delayed tariffs on many countries, China remained the outlier — and the economic tensions have only intensified. In this episode, we trace how the trade war has evolved, why China is still firmly in the firing line, and what the economic implications could be for both nations.

We’ll hear from Kelly Ann Shaw, who advised President Trump on global trade during his first term, to understand the thinking behind the White House’s strategy. And with The Telegraph’s senior foreign correspondent, Sophia Yan, we’ll explore what Beijing wants out of this moment — and how it’s trying to project strength. Sophia lived in China during the height of the last trade war and brings rare, on-the-ground insight into how much has changed. The big question: is Xi Jinping open to striking a deal?

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