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| Boilerpipe Text | Oct 23rd 2025
|
5 min read
D
onald Trump
and Xi Jinping are due to meet in South Korea next week. However, it is uncertain whether they actually will. Such is the shocking state of the world’s most important relationship. For weeks, America and China have been lashing out at each other. America has tightened tech-export restrictions and threatened higher tariffs; China has wielded sanctions and restrictions on rare earths. The two sides
communicate poorly
. In the White House there is a belief that America has the upper hand in this test of nerves and pain-tolerance. Scott Bessent, the treasury secretary, says China is “weak”. But the reality is different. |
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[Leaders](https://www.economist.com/leaders) \| Sino-US relations
# Why China is winning the trade war
## It has rebuffed America and rewritten the norms of global commerce
Share

Illustration: The Economist/Daniel Lievano
Oct 23rd 2025
\|5 min read
Donald Trumpand Xi Jinping are due to meet in South Korea next week. However, it is uncertain whether they actually will. Such is the shocking state of the world’s most important relationship. For weeks, America and China have been lashing out at each other. America has tightened tech-export restrictions and threatened higher tariffs; China has wielded sanctions and restrictions on rare earths. The two sides [communicate poorly](https://www.economist.com/china/2025/10/20/why-america-and-china-cant-escape-their-toxic-cycle-of-trade-talks). In the White House there is a belief that America has the upper hand in this test of nerves and pain-tolerance. Scott Bessent, the treasury secretary, says China is “weak”. But the reality is different.
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| Readable Markdown | Oct 23rd 2025\|5 min read
Donald Trumpand Xi Jinping are due to meet in South Korea next week. However, it is uncertain whether they actually will. Such is the shocking state of the world’s most important relationship. For weeks, America and China have been lashing out at each other. America has tightened tech-export restrictions and threatened higher tariffs; China has wielded sanctions and restrictions on rare earths. The two sides [communicate poorly](https://www.economist.com/china/2025/10/20/why-america-and-china-cant-escape-their-toxic-cycle-of-trade-talks). In the White House there is a belief that America has the upper hand in this test of nerves and pain-tolerance. Scott Bessent, the treasury secretary, says China is “weak”. But the reality is different. |
| Shard | 135 (laksa) |
| Root Hash | 16779481905418258935 |
| Unparsed URL | com,economist!www,/leaders/2025/10/23/why-china-is-winning-the-trade-war s443 |