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Illustration: Sarah Grillo/Axios

Reports show China's intellectual property theft costs U.S. companies hundreds of billions of dollars a year, and Chinese businesses have clearly benefited from a government-manipulated currency, goods dumping and non-tariff barriers at the expense of American firms.

Why it matters: A lack of money is not America's problem, given its $21 trillion economy. But President Trump has yet to explain how a trade war victory benefits working people in places like Louisiana, Michigan and South Carolina who will suffer higher prices on account of his conflict.

  • Instead, the White House looks to be taking a different track: praising the virtue of sacrifice.

The big picture: Wars are unpleasant things, and trade wars are no exception to the rule. When a country goes to war, its citizens have to make sacrifices, as Sen. Tom Cotton (R-Ark.) acknowledged on "CBS This Morning" Monday.

"There will be some sacrifices on the part of Americans, I grant you that, but I also would say that sacrifice is pretty minimal compared to the sacrifices that our soldiers make overseas, that our fallen heroes that are laid to rest in Arlington make."

The catch: Cotton's remarks come in the wake of White House economic adviser Larry Kudlow telling Fox News' Chris Wallace on Sunday that "both sides will pay... Both sides will suffer on this."

The bottom line: With a trillion dollars of global stock-market losses on Monday alone, and the continued implosion of agricultural prices, Republicans aren't even trying any more to make the case that trade wars are easy to win. Now that they're asking Americans to make sacrifices, they're going to have to start being more explicit about what cause the sacrifices are being made for.

Go deeper: Trade war intensifies as China retaliates with $60 billion in tariffs

Go deeper

Woman who allegedly stole laptop from Pelosi's office to sell to Russia is arrested

Photo: FBI

A woman accused of breaching the Capitol and planning to sell to Russia a laptop or hard drive she allegedly stole from Speaker Nancy Pelosi's office was arrested in Pennsylvania's Middle District Monday, the Department of Justice said.

Driving the news: Riley June Williams, 22, is charged with illegally entering the Capitol as well as violent entry and disorderly conduct. She has not been charged over the laptop allegation and the case remains under investigation, per the DOJ.

Biden will reverse Trump's attempt to lift COVID-related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.