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Today, Explained

Tonight. Midnight. Trade war.

Today, Explained

Vox

News, Daily News, Politics

4.310.3K Ratings

🗓️ 5 July 2018

⏱️ 19 minutes

🧾️ Download transcript

Summary

When the clock strikes twelve tonight, the US government plans to hit Chinese goods with $34 billion in tariffs. China plans to lash back. Vox’s Matthew Yglesias explains who this trade war will hurt the most. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

John, the last time we spoke, you were toying with the idea of outfitting your entire family.

0:04.4

All four of you with Quip Electric toothbrushes.

0:07.2

It's something that I'm willing to invest in. Again, we have kind of a spotty relationship with

0:11.6

toothbrushing in our family, meaning we're not the most consistent and we'd like to be.

0:16.7

Okay.

0:17.2

And for the two weeks that I owned a Quip Electric toothbrush before I lost it in Hong Kong,

0:22.0

I was on a routine and going through this revolution. So yeah, I'm willing to invest a little bit

0:26.4

in order to get my dental hygiene in order.

0:28.7

At GetQuip.com slash explain.

0:30.5

Definitely.

0:41.2

Right now, there is a cargo ship racing the clock to cross the Pacific Ocean.

0:47.8

It's called Peak Pegasus.

0:50.0

And Peak Pegasus is carrying a boatload of soybeans.

0:57.3

It's trying to get them to China.

0:59.9

Peak Pegasus is gunning it because tonight, at the stroke of midnight, the trade war begins.

1:08.0

Let's see.

1:18.3

Matthew Iglesias, you're right about the economy here at Vox.

1:22.0

You'd never know we're about to go to war.

1:24.1

Trade war.

1:24.8

Trade war.

1:28.6

Trade war with China is about to start on Friday when a long list of imports from China are going

1:34.4

to be subject to new taxes by the United States.

...

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