Trump defends trade war against China despite risks

President Donald Trump’s trade war just got more complicated — and it’s far from clear whether he’ll win a deal before American voters head to the polls next November.

Trump has become increasingly frustrated by a serious lack of progress on the China trade talks after believing he’d made progress in his meeting with Chinese President Xi Jinping on the sidelines of the G20 leaders summit in Osaka, Japan, according to multiple officials familiar with Trump’s thinking.
Since then, the President and others have grown more pessimistic over the past week that a trade deal isn’t possible in the near-term, and Trump has acted against the advice of key economic advisers.
Trump surprised both China and investors last week by threatening to apply a 10% tariff on $300 billion of goods on September 1, and then swiftly retaliated by labeling the country a currency manipulator on Monday after Beijing said it would halt purchases of American farm products and allowed its currency to weaken.