President Donald Trump misjudged Beijing by calculating that it would cave into economic pressure, leaving the US unprepared to handle the current tariff standoff, according to an adviser to China’s Foreign Ministry.

Trump and Treasury Secretary Scott Bessent have been making vaguely conciliatory comments about the administration’s approach to China. The former said this week that his tariffs will eventually “come down substantially” and that he won’t play hardball with Beijing.

Citadel CEO Ken Griffin, a billionaire supporter of President Donald Trump and a megadonor to Republican candidates, had some unusually harsh words for the president about his trade war: It’s hurting America’s standing in the world and eroding the nation’s brand.