Steve Bannon: There is ‘no chance’ Trump is going to back down in the China trade war

Steve Bannon

There is “no chance” President Donald Trump will back down in the U.S. trade war with China, former Trump advisor Steve Bannon told CNBC on Wednesday.

China has been running an economic war against the industrial democracies for now 20 years,

said the hardline ex-White House chief strategist, who helped craft Trump’s nationalist message.

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Bannon said previous presidents — Bill Clinton, George W. Bush and Barack Obama — passed the buck on addressing and fixing the problems of China’s protectionist economy. But Trump is not shying away from the fight, he added.

There is no chance that Donald Trump backs down from this. I think he’s looking at the good of people on a global basis,

Bannon said in the “Squawk Box” interview.

Under Trump, Washington has taken a tougher stance on China than his recent predecessors. In addition to disputes around trade and the alleged Chinese theft of U.S. intellectual property, American intelligence chiefs expressed their distrust of Chinese tech giant Huawei and Chinese telecom company ZTE.

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