Yuqing Xing is a professor of economics at the National Graduate Institute for Policy Studies in Tokyo.
The trade war is hurting U.S. firms, isolating allies, and handing China a golden opportunity

Chinese President Xi Jinping speaks during a meeting with foreign business leaders at the Great Hall of the People in Beijing on March 28, 2025. © Reuters
Yuqing Xing is a professor of economics at the National Graduate Institute for Policy Studies in Tokyo.