A spat between the U.S. and China over tariffs heightened fears this week of an all-out trade war between the world’s two largest economies, causing markets to tumble.
The episode escalated when the U.S. Trade Representative unveiled a list of $50 billion in Chinese products that could be hit with stiff tariffs. Beijing responded in kind, announcing plans to impose duties on U.S. goods.
President Trump ratcheted up his rhetoric after that, saying that he had instructed U.S. Trade Representative Robert Lighthizer to consider tariffs on another $100 billion in Chinese products.
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That prompted a swift reply from the Chinese government, which said that, although it did not want a trade war with the U.S., it was “not afraid of fighting” Trump’s protectionist policies.
The back-and-forth between Washington and Beijing rattled world financial markets and drew rebukes from U.S. companies amid fears that they could be cut off from the world’s second largest economy.
At the same time, the Trump administration rolled out a series of new sanctions targeting dozens of Russian oligarchs, government officials and companies, in what was cast by U.S. officials as a broad effort to punish Russia for alleged destabilizing activities.
That move came more than a week after the U.S. and more than two dozen other countries announced that they would expel Russian diplomats as punishment for Moscow’s alleged role in the poisoning of a former Russian spy on British soil last month.
The Trump administration appears poised to defend the latest tariff threats and tout the sanctions during the Sunday morning news shows, with top trade and economic officials set to make appearances.
Here’s the full lineup:
NBC’s “Meet the Press”: White House Trade Adviser Peter Navarro is set to make an appearance. Sen. Michael Rounds (R-S.D.) and Christopher Wylie, the co-founder of embattled consulting firm Cambridge Analytica, will also be on.
“Fox News Sunday”: White House Economic Adviser Larry Kudlow and Rep. Joe Crowley (D-N.Y.) will be on the show.
CBS’s “Face the Nation”: Treasury Secretary Steven Mnuchin will be on. He’ll be joined by Sens. John Kennedy (R-La.) and Ben Cardin (D-Md.).
CNN’s “State of the Union”: Kudlow will make an appearance, as will Sen. Susan Collins (R-Maine).
ABC’s “This Week”: Thomas Bossert, the White House homeland security and counterterrorism adviser, will be on. Sen. Lindsey Graham (R-S.C.) will also make an appearance.