How bad will the U.S.-China trade fight get? That depends on whether President Donald Trump will settle for a reduction in China's U.S. trade surplus or hold out for sweeping changes to China's industrial policies.
After Trump's announcement on Thursday that he will impose tariffs on up to $60 billion worth of Chinese goods and impose investment restrictions on Beijing, it is far from clear what Trump's endgame is, trade experts say.
Trump repeated on Thursday that he wants a $100 billion reduction in China's trade surplus, while his top trade negotiator, Robert Lighthizer, said fundamental changes that allow U.S. companies to keep their technological edge over Chinese competitors were critical to the future of the U.S. economy.