The trade war that was launched last Friday when the U.S. imposed a 25 percent tariff on $34 billion of imports from China is causing global concern.

China retaliated with its own tariffs on U.S. products and there are fears of further escalation.

Meanwhile, China’s Premier Li Keqiang is in Europe where he is talking trade with Germany’s Chancellor Angela Merkel and leaders from Central and Eastern Europe.

CGTN’s Jessica Stone has this report from the White House.

To discuss:

• Xiankun Lu is a former senior trade diplomat for China and an Emeritus Professor at Wuhan University.
• Merrill Matthews is a resident scholar with the Institute for Policy Innovation.
• Peter Ho is an economist and a research fellow at the London School of Economics.
• Sourabh Gupta is a senior fellow at the Institute for China-America studies. 

For more:

Will Trump's tariff war alter the balance of economic power? | Mohamed El-Erian https://t.co/3af92DVWPO

— The Guardian (@guardian) July 9, 2018

Governor John Kasich of Ohio praises the virtues of free trade in response to President Trump's tariffs and the trade war. https://t.co/qprZ23USBn pic.twitter.com/AhJM3cowqR

— CNBC (@CNBC) July 9, 2018