Author and China expert Gordon Chang told Newsmax on Thursday that China can't win the trade and tariff battle with President Donald Trump and that President Xi Jinping's only hope is for "Trump to give up."
"Xi Jinping knows that he doesn't hold the high cards," Chang said on "American Agenda." "He's got the smaller economy. ... The only way that he wins a trade war is if he gets President Trump to back down. And what Xi Jinping is trying to do is to get Wall Street, Main Street, C-suites to put pressure on Trump to give up."
Chang said China lacks the leverage to force Trump away from leveling the world trading field.
"And so we're seeing a lot of activity from the Chinese with their currency, with other things," Chang said. "They're just trying to do their best. But they only hold a pair, as the Treasury secretary said. And I'm not even sure that they have that."
Chang said that even with Trump having the stronger position, it won't be easy to achieve trade parity with China.
"This is going to be a very difficult time with China," Chang said. "They don't want to come to a deal quickly. They want to make Trump sweat.
"I actually think the Chinese approach is wrong. As we saw when [Ukraine President] Volodymyr Zelenskyy was in the White House and challenged Trump, it didn't work out well for Ukraine."
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