Harrell: US-China Lack of Deliverables Was as Expected

Peter Harrell says that the key dynamic is not which country has the upper hand, but that both China and the United States have meaningful leverage: the U.S. through tariffs, export controls, semiconductors, the dollar and AI technology, and China through rare earths, specialty chemicals, and manufacturing scale. Harrell says this mutual leverage helps explain the recent emphasis on “strategic stability” and why both countries may want to ease tensions for now while they work to reduce their dependence on each other. He speaks to Romaine Bostick on "The Close." (Source: Bloomberg)