In my judgment, the economic consequences are so small, but the possible improvement

and trade and exports and open markets for the United States. This is worthwhile doing.

That's the gamble. That's the gamble. It's me the biggest differences in the United States.

We have an lecture over a couple years and politicians are answerable immediately to the voters.

Whereas in China, they can wait a long time and you don't have a media intentionally whipping up fear and angst.

Some of which may be justified, but certainly not all. Gordon Chang joins us. Gordon is an author and columnist,

an authority on Asian affairs and a realist. You can find him at Gordon G. Chang. He's also columnist at the Daily Beast.

Gordon, welcome. How are you, sir?

I'm fine. Thank you. Thank you so much.

It's our pleasure. Why is the Trump administration willing to endure the pain of tariffs, the controversy, etc.

What is the goal?

Well, there are a number of goals. President Trump talks about evening out the trade deficit.

But also, I got to remember that the tariffs in question are imposed under Section 301 of the Trade Act of 1974.

These are remedies for the theft of U.S. intellectual property and China each year steals somewhere between 150 to 600 billion dollars of U.S. IP.

Probably in the 300 to 400 billion dollar range.

This is a grievous wound to the American economy and we've got to stop it.

So that's why we have what people call a trade war.

And by the way, the Chinese have been waging this trade war against the U.S. for decades.

We've been oblivious and fortunately we have a president who is now willing to take the Chinese on.

Previous presidents have not been.

Yeah, it reminds me. It's the economic version of when we were attacked by al Qaeda.

And hey, look, they've been at war with us for decades.

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