China caved on one of its major 125% tariffs against ethane imports from the U.S. on Tuesday, having initially imposed the tariff last month.

U.S. Financial commentator for The Financial Times Robert Armstrong, publisher of the Bulwark Sarah Longwell, and anchor and correspondent for Bloomberg News David Gura join Nicolle Wallace to discuss the crumbling confidence in Trump's handling of the economy as China pushes back against the official White House narrative.

With economists and business leaders warning of impending disaster from the massive import taxes placed on most Chinese imports by President Donald Trump, the White House is still playing coy about whether the president and Chinese leader Xi Jinping have spoken about de-escalating the ongoing trade war between Beijing and Washington.