It remains unclear where the China trade war is heading. Last week, U.S. Treasury Secretary Scott Bessent singled out China as “bad actors” in global trade. “China is the most unbalanced economy in the history of the modern world,” he told reporters, “and they are the biggest source of the U.S. trade problems.”

A striking escalation of trade hostilities shows the two economies are digging in for a protracted fight.

President Trump hinted this week that the tariff spat with China might end soon, but with the Chinese showing few signs of backing down, will the U.S. be forced to blink first? Scott Kennedy, senior adviser and trustee chair in Chinese business and economics at the Center for Strategic and International Studies,