Mary Lovely, a senior fellow with the Peterson Institute for International Economics, joins CNBC to provide clarity on the mischaracterization of Chinese tariff rates by President Trump. She discusses the escalating trade war’s nature and its implications on U.S.-China trade relations. Lovely explains the impact of U.S. tariffs on China’s economy and elaborates on the administration’s objectives in implementing these tariffs. Understanding these dynamics will allow investors to better assess the potential consequences for global markets in the near future. Listening to experts like Lovely can provide valuable context in these uncertain times.