There is "no chance" President Donald Trump will back down on the trade war with China, former WH advisor Steve Bannon told CNBC's "Squawk Box" on Wednesday.
"China has been running an economic war against the industrial democracies for now 20 years," Bannon said. "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."
The trade standoff "cuts to the core of what the United States is going to be in the future," he said. "With 'Made in China 2025,' 'One Belt-One Road,' and Huawei’s 5G rollout, this is a master plan to become an economic hegemon."