The Trade War Is Trump’s Afghanistan, Says PIIE’s Posen

The video discusses the potential ineffectiveness of US intervention in currency markets, especially given the large daily turnover compared to US reserves. It highlights the impact of tariffs on the US economy, including reduced foreign investment and technology flows. The trade war between the US and China is likened to an unwinnable conflict, with both countries suffering losses. Smaller countries like Vietnam may benefit from trade diversion, but overall, the global market environment is deteriorating.

In what ways does the current trade war resemble the situation in Afghanistan according to the speaker?

What is the overall assessment of who is winning the trade war between the US and China?