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The Story

Has China won the trade war?

The Story

The Times

Politics, Uk News, News, Long-form Audio, Global News, In-depth Journalism, Daily News, Exclusive Interviews, Audio Storytelling, News Analysis, Current Affairs, Investigative Reporting, Daily News Podcast

3.91.6K Ratings

🗓️ 30 October 2025

⏱️ 31 minutes

🧾️ Download transcript

Summary

Donald Trump has threatened 100% tariffs on Chinese goods, while Xi Jinping hit back with export limits on rare earth minerals. As the two leaders come face to face in South Korea to make a deal, the stakes are high.


This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory


Guest: Cindy Yu, columnist and contributing editor, The Times and The Sunday Times. 

Host: Manveen Rana. 

Producer: Edith Rousselot and Alula Hart. 

Clips: CBS News, CNBC, AP News, Bloomberg TV.

Photo: Getty Images.

Get in touch: thestory@thetimes.com

This podcast was brought to you thanks to subscribers of The Times and The Sunday Times. To enjoy unlimited digital access to all our journalism subscribe here.


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Transcript

Click on a timestamp to play from that location

0:00.0

From The Times and the Sunday Times, this is the story.

0:05.9

I'm Manvine Rana.

0:09.8

It's the showdown to rival the thriller in Manila.

0:13.8

The two most powerful leaders in the world engaged in a dangerous trade war

0:18.2

of finally coming face to face at a summit in South Korea.

0:22.6

Now a sit down between President's Trump and Xi Jinping.

0:25.6

Set to occur now on the sidelines of the APEC summit,

0:28.6

both leaders look to de-escalate a simmering trade war.

0:31.6

Tensions have jumped recently with China's announced restrictions

0:34.6

on rare earth mineral exports

0:36.6

and Trump's threatened retaliation

0:39.0

of massive tariffs.

0:41.6

Donald Trump, on a whistle-stop tour of the Far East, has spent days talking up the meeting.

0:47.3

I have a lot of respect for presidency. I like him a lot. He likes me a lot, I believe,

0:52.4

and respects me, and I think he respects our country a lot.

0:55.5

I think we're going to have a successful transaction for both countries.

0:59.6

But the stakes couldn't be higher, and the rivalry between the two leaders could still hit

1:05.8

the global economy.

1:07.4

I think we'll make a deal. They threatened us with rare earths, and I threatened them with tariffs,

1:12.6

but I could also threaten them with many other things.

1:16.1

So why have tensions been ratcheting up between the two fractious leaders? And what would a good deal look like?

1:32.0

Yeah. look like. The story today, has China won the trade war?

...

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