Donald Trump is losing the trade war on China, which he started. The agreement he made at the meeting with President Xi Jinping shows how the US is much more dependent on the Chinese economy than vice versa. Political economist Ben Norton explains how Trump's tariffs have hurt American workers, especially farmers, while China advances as a new technological and manufacturing superpower.

VIDEO: https://www.youtube.com/watch?v=MWrdxBODSUE

Topics

0:00 Trump's meeting with Xi Jinping

1:07 China successfully defends itself

2:58 China is a new "economic superpower"

4:04 This is a one-year "tactical detente"

4:47 Details of Trump-Xi agreement

6:20 Trump undoes "self-inflicted" damage

7:02 Scott Bessent claimed China had "losing hand"

7:40 China is less dependent on US economy

8:24 Analyzing US-China trade

9:59 USA is dependent on Chinese tech

11:06 China is a manufacturing superpower

12:08 China's domestic revenue vs exports

13:43 Bipartisan US trade war

14:30 One-year trade truce

15:40 US midterm elections coming up in 2026

16:12 Poll: Republicans (and Dems) are unpopular

16:48 Trump's low approval rating of 39%

17:27 US consumers pay for Trump's tariffs

18:54 Inflation and US economic problems

20:58 US manufacturing jobs decline

22:32 Soybean war: Trump's tariffs hurt farmers

24:38 China buys soybeans from Latin America

25:25 Trump's bailout of farmers

27:24 China's rare earth dominance

28:58 US industry needs China's rare earths

30:40 Chip war: US semiconductor restrictions

31:54 China develops domestic chip industry

33:40 China's new 5-year plan pushes tech

34:31 Made in China 2025 industrial policy

35:45 China leads in critical technologies

37:22 China's "technological self-reliance"

38:25 USA is losing trade war

39:25 Outro