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The transcript discusses escalating trade tensions between the US and China, focusing on potential impacts on markets and investment strategies. It highlights the complacency around President Trump's actions, the historical context of midterm elections, and China's ability to endure economic pain. Investment strategies such as focusing on US small caps and defensive groups are explored. The transcript also covers market reactions and predictions, with a debate on whether the US or China will be more affected by the trade tensions.

What concerns are raised regarding the trade tensions and their potential impact on the upcoming midterm elections?

How do the comments from Wilbur Ross reflect the U.S. strategy towards China in the context of trade?

What are the potential market reactions if the trade tensions continue to escalate beyond Labor Day?

What defensive strategies are suggested for investors in light of the escalating trade tensions?

Discuss the implications of the statement that the Chinese can withstand more pain than the U.S. in the trade war.