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OAN Staff Alicia Summers
5:17 PM – Wednesday, February 5, 2025
China is retaliating against President Trump’s new 10-percent tariffs on Chinese imports by imposing its own tariffs on U.S. goods, including 15 percent on coal and gas, 10 percent on oil, farm equipment, and cars, effective next Monday. In addition, China has blacklisted major U.S. companies, such as the owner of Calvin Klein, making it harder for them to operate in China, and launched an antitrust investigation into Google. Dale Smothers, CEO of R-D-S Wealth Management joins Alicia Summers to discus the leverage the U.S. has over China due to the large trade imbalance, and while he predicts short-term pain from the trade war, he believes it could result in long-term gains. He also highlights the national security risks posed by U.S. dependence on China for pharmaceuticals and critical minerals used in technology, clean energy, and defense, suggesting that this may push companies to bring production back to the U.S.
