China–United States trade war: Difference between revisions
WP:BRD per talk. Reversion of this revert will result in escalation to DRN |
Mx. Granger (talk | contribs) again, removing material that sources don't tie to the trade war, per talk - if you think any of this should be re-added, please make the case on talk |
||
Line 33: | Line 33: | ||
[[File:United States Balance of Trade Deficit-pie chart.svg|thumb|U.S. trade deficit (in billions, goods and services) by country in 2014]] |
[[File:United States Balance of Trade Deficit-pie chart.svg|thumb|U.S. trade deficit (in billions, goods and services) by country in 2014]] |
||
The United States and China are the world's two largest economies; the US has [[List of countries by GDP (nominal)|a larger nominal GDP]], whereas China has a larger GDP when measured in terms of [[purchasing power parity]]. |
The United States and China are the world's two largest economies;<ref>{{cite news |last1=Fitzgerald |first1=Maggie |title=Trade war hit to global economy could be as big as the entire economy of Switzerland, new IMF director says |url=https://www.cnbc.com/2019/10/17/imf-trade-war-hit-to-global-economy-could-be-as-big-as-switzerland.html |accessdate=31 August 2020 |work=CNBC |date=17 October 2019 |language=en}}</ref> the US has [[List of countries by GDP (nominal)|a larger nominal GDP]], whereas China has a larger GDP when measured in terms of [[purchasing power parity]]. The United States is the [[List of countries by imports|world's largest importer]], while China is the second largest.<ref>{{cite news |title=Mapping International Trade: Who Are the Biggest Importers? |url=https://howmuch.net/articles/the-worlds-biggest-importers-2018 |accessdate=31 August 2020 |work=HowMuch}}</ref> China is the [[List of countries by exports|world's largest exporter]].<ref>{{cite news |title=Mapping International Trade: Who Are the Biggest Exporters? |url=https://howmuch.net/articles/the-worlds-biggest-exporters-2018 |accessdate=31 August 2020 |work=HowMuch}}</ref> Together, they represent close to 40% of world GDP, and they are important pillars for the global economy.<ref name="HowMuch USA vs. China">{{cite news |title=USA vs. China Trade War Illustrated in 6 Visualizations |url=https://howmuch.net/articles/trade-war-in-6-visualizations |accessdate=31 August 2020 |work=HowMuch}}</ref> |
||
According to an article in the Nikkei Asian Review, when the U.S. needed to issue a huge volume of bonds to stabilize the financial markets in the wake of the [[Financial crisis of 2007–08|2007–2008 financial crisis]], it relied on China.<ref>{{Cite news|title=The master of China's US debt might be the next vice president|url=https://asia.nikkei.com/Economy/The-master-of-China-s-US-debt-might-be-the-next-vice-president|first1=TETSUSHI|last1=TAKAHASHI|first2=YUSHO|last2=CHO|publisher=[[The Nikkei]]|date=2018-02-08|accessdate=2020-01-20}}</ref> |
|||
By 1984, the United States had become China's third-largest trading partner, and China became America's 14th largest. However, the annual renewal of China's MFN ([[most favored nation]]) status was constantly challenged by anti-Chinese [[pressure group]]s during US [[United States congressional hearing|congressional hearings]]. For example, U.S. imports from China almost doubled within five years from $51.5 billion ($84.2 billion in 2019 dollars) in 1996 to $102 billion ($148 billion in 2019 dollars) in 2001.<ref>{{cite web|url=https://www.census.gov/foreign-trade/balance/c5700.html#2001 |title=Foreign Trade - U.S. Trade with China |publisher=Census.gov |date= |accessdate=2012-07-06}}</ref> The American [[textile industry]] lobbied Congress for, and received, tariffs on Chinese textiles according to the WTO [[Agreement on Textiles and Clothing]]. In reaction to the [[1989 Tiananmen Square protests]]' suppression, the [[Presidency of George H. W. Bush|Bush I administration]] and Congress imposed administrative and legal constraints on investment, exports, and other trade relations with China.<ref name="Kent">{{cite journal|title=States Monitoring States: The United States, Australia, and China's Human Rights, 1990-2001 |first=Ann |last=Kent |journal=Human Rights Quarterly|volume=23 |issue=3|year=2001|pages=583–624 |publisher=The Johns Hopkins University Press |url=https://olemiss.edu/courses/pol324/kentanne.pdf|doi=10.1353/hrq.2001.0037 |s2cid=144657047 }}</ref> |
|||
In 1991, China only accounted for 1% of total US manufacturing spending.<ref>{{Cite web|url=https://voxeu.org/article/reconsidering-china-shock-trade|title=Reconsidering the 'China shock' in trade|last1=Feenstra|first1=Robert|last2=Ma|first2=Hong|date=2018-01-18|website=VoxEU.org|last3=Sasahara|first3=Akira|last4=Xu|first4=Yuan}}</ref> The [[Presidency of Bill Clinton|Clinton presidency]] from 1992 started with an [[executive order]] (128590) that linked renewal of China's MFN status with seven [[human rights in China|human rights]] conditions, including "preservation of Tibetan indigenous religion and culture" and "access to prisons for international human rights organizations"—Clinton reversed this position a year later.{{citation needed|date=June 2020}} In 2001 U.S. President [[George W. Bush]] visited in China on his first international trip since the [[September 11 attacks]] and China offered strong public support for the War on Terror in [[APEC China 2001]].<ref>{{cite news |url=http://edition.cnn.com/2001/US/10/17/ret.china.bush.apec/index.html |title=Bush arrives in Shanghai for APEC |publisher=CNN |date=2001-10-17 }}</ref><ref>{{cite news |url=http://edition.cnn.com/2001/WORLD/asiapcf/east/10/21/apec.finalstatement/index.html |title=APEC unites against terror |publisher=CNN |date=2001-10-22 }}</ref> Bush advocated for China's entry into the [[World Trade Organization]] despite having to deal with the contemporaneous developments from the [[Hainan Island incident]].<ref>{{cite news |url=http://edition.cnn.com/2001/WORLD/asiapcf/east/04/05/china.WTO/ |title=Bush backs China's WTO entry despite standoff |publisher=CNN |date=April 6, 2001 |archiveurl=https://web.archive.org/web/20110515133508/http://edition.cnn.com/2001/WORLD/asiapcf/east/04/05/china.WTO/ |archivedate=May 15, 2011 |url-status=dead }}</ref> According to an article in the Nikkei Asian Review, when the U.S. needed to issue a huge volume of bonds to stabilize the financial markets in the wake of the [[Financial crisis of 2007–08|2007–2008 financial crisis]], it relied on China.<ref>{{Cite news|title=The master of China's US debt might be the next vice president|url=https://asia.nikkei.com/Economy/The-master-of-China-s-US-debt-might-be-the-next-vice-president|first1=TETSUSHI|last1=TAKAHASHI|first2=YUSHO|last2=CHO|publisher=[[The Nikkei]]|date=2018-02-08|accessdate=2020-01-20}}</ref> |
|||
===China joins the World Trade Organization=== |
===China joins the World Trade Organization=== |
||
Line 45: | Line 43: | ||
[[File:Xi Jinping and Barack Obama toast at White House state dinner September 2015.jpg|thumb|210px|[[Barack Obama]] and Chinese leader [[Xi Jinping]] raising a toast during a state dinner at the White House, September 25, 2015]] |
[[File:Xi Jinping and Barack Obama toast at White House state dinner September 2015.jpg|thumb|210px|[[Barack Obama]] and Chinese leader [[Xi Jinping]] raising a toast during a state dinner at the White House, September 25, 2015]] |
||
With the [[United States–China Relations Act of 2000]], China was allowed to join WTO in 2001 and was given a [[most favoured nation]] (MFN) status.<ref>{{cite news |title=Normalizing Trade Relations With China Was a Mistake |url=https://www.theatlantic.com/ideas/archive/2018/06/normalizing-trade-relations-with-china-was-a-mistake/562403/ |work=The Atlantic |date=June 8, 2018}}</ref><ref>{{cite news |title=President Grants Permanent Trade Status to China |url=https://georgewbush-whitehouse.archives.gov/news/releases/2001/12/20011227-2.html |publisher=www.whitehouse.archives.gov |date=December 27, 2001}}</ref> |
With the [[United States–China Relations Act of 2000]], China was allowed to join WTO in 2001 and was given a [[most favoured nation]] (MFN) status.<ref>{{cite news |title=Normalizing Trade Relations With China Was a Mistake |url=https://www.theatlantic.com/ideas/archive/2018/06/normalizing-trade-relations-with-china-was-a-mistake/562403/ |work=The Atlantic |date=June 8, 2018}}</ref><ref>{{cite news |title=President Grants Permanent Trade Status to China |url=https://georgewbush-whitehouse.archives.gov/news/releases/2001/12/20011227-2.html |publisher=www.whitehouse.archives.gov |date=December 27, 2001}}</ref> |
||
However, his administration had accused the Chinese of failing to comply with global trade rules and demanded that the Chinese first resolve a list of outstanding trade grievances with Washington, including opening its markets and protecting copyrights and patents. Among the key issues were that China was a major source of pirated musical compact disks and video laser disks, along with virtually all the computer software sold in China. On intellectual property rights, there was no enforcement of China's written laws, and as a result the piracy and theft of American-produced music, videos and software was costing American companies $1 billion a year by 1994 ($1.73 billion in 2019 dollars).<ref name=NYT-1994>[https://www.nytimes.com/1994/07/24/world/us-may-thwart-china-s-trade-goal.html?searchResultPosition=1 "U.S. May Thwart China's Trade Goal"], ''New York Times'', July 24, 1994</ref> |
|||
By 2000, Clinton said he was optimistic on achieving a fair agreement: "Economically, this agreement is the equivalent of a one-way street. It requires China to open its markets—with a fifth of the world’s population, potentially the biggest markets in the world—to both our products and services in unprecedented new ways," said Clinton. In a speech that year, he stated his hopes: |
|||
{{quote|For the first time, our companies will be able to sell and distribute products in China made by workers here in America without being forced to relocate manufacturing to China, sell through the Chinese government, or transfer valuable technology—for the first time. We’ll be able to export products without exporting jobs.<ref>[https://www.iatp.org/sites/default/files/Full_Text_of_Clintons_Speech_on_China_Trade_Bi.htm "Text of Clinton's Speech on China Trade Bill"], Federal News Service, March 9, 2000</ref>}} |
|||
===Conflicts after China joins the WTO=== |
|||
While the expansion of China's volume of trade after its entry into the WTO sometimes unsettled markets and competitors, the country had agreed to some of the quickest reductions in tariffs ever undertaken by a new member.<ref name=WTO-1>{{cite news |url=https://www.nytimes.com/2005/11/07/world/asia/accession-has-brought-change-to-china-and-wto.html |title=Accession has brought change to China and WTO |work=New York Times |first=Howard |last=Winn |date= 7 November 2005 |accessdate=10 August 2020}}</ref> In an August 2005 testimony before the Office of the U.S. Trade Representative, the US-China Business Council noted the "far more open and profitable business environment for many US companies" in China, but called for faster progress on a range of issues, including intellectual property enforcement and access to the service sector.<ref name=WTO-1/> Both Chinese exports and imports rose rapidly, with imports rising more rapidly than exports in the years immediately following WTO accession.<ref name=WTO-1/><ref name="IMF-2004"/> However, China's exports to the United States grew more quickly than its imports from the United States, and the bilateral trade imbalance widened from $90.2 billion in 2001 to $175.8 billion in 2004; an article in the New York Times described the imbalance as "uncomfortable for the United States."<ref name=WTO-1/><ref name="IMF-2004">{{cite book |first1=Nicolas R. |last1=Blancher |first2=Thomas |last2=Rumbaugh |date=1 March 2004 |title=China: International Trade and WTO Accession |publisher=International Monetary Fund |isbn=9781451845488}}</ref> However, a 2011 article by the Washington Post which cited analysts and business officials said that while China has complied with many of its explicit promises it made to lower tariffs and other barriers, it had failed to adhere to the broader spirit of free trade.<ref name=WP-China-3/> It also said that the economic relationship between the United States and China had become less balanced, not more, as the U.S. trade deficit with China ballooned from about $83 billion to a peak of $268 billion in 2008.<ref name=WP-China-3/> |
|||
After China's accession to the WTO, the United States had filed a number of cases against China to the WTO over its trade policies and practices. In 2006, the WTO ruled in favor of a complaint brought by the European Union, United States and Canada which determined that China violated global trade rules by requiring automakers operating in China to buy most components from local suppliers or face higher tariffs; this marked the first time China lost a case since it joined the WTO in 2001.<ref name=WP-China-7>[https://www.washingtonpost.com/wp-dyn/content/article/2008/07/18/AR2008071802945.html "WTO Challenges China on Tariffs"], ''Washington Post'', July 19, 2008</ref> An article in the Washington Post said that the WTO case was filed at a time when US lawmakers began ramping up their criticism of China's trade policies, accusing it of "using a combination of subsidies, tax incentives and an undervalued currency to give an unfair advantage to domestic companies, helping to drive up the Asian nation's record trade surplus."<ref name=WP-China-7/> The WTO would rule in favor of the United States in two further cases involving both the United States and China - a 2009 case involving the US imposition of anti-dumping tariffs on Chinese tires and a 2011 case involving Chinese duties on imported American automobiles.<ref name="LATimes-2014">{{cite news |url=https://www.latimes.com/business/la-fi-wto-autos-china-20140524-story.html |title=U.S. prevails in WTO dispute with China over auto tariffs |work=Los Angeles Times |first=Jim |last=Puzzanghera |date=23 May 2014 |accessdate=10 August 2020}}</ref> An article in the Los Angeles Times said that under the Obama Administration, the U.S. and China had been engaged in a high-stakes game of tit for tat, fueled by long-running Democratic concerns that Beijing wasn’t playing fair since its membership into the WTO.<ref name="LATimes-2014"/> |
|||
In 2010, the [[United Steelworkers]] filed a petition with the United States Trade Representative which accused China of illegally helping its companies seize a dominant market share of the renewable energy industry and in the process threatening to take US clean energy jobs through subsidies and trade restrictions;<ref>{{cite news |last1=Schneider |first1=Howard |title=U.S. steelworkers target China |url=https://www.washingtonpost.com/wp-dyn/content/article/2010/09/09/AR2010090906833.html |agency=Washigton Post |publisher=Washigton Post |date=September 10, 2010}}</ref><ref>{{cite news |title=U.S. union files case on China clean energy practices |url=https://www.reuters.com/article/us-usa-china-cleanenergy/u-s-union-files-case-on-china-clean-energy-practices-idUSTRE6875O420100909 |agency=Reuters |date=September 9, 2010}}</ref> the petition drew statements of support in articles from the Economic Policy Institute<ref>{{cite news |last1=Scott |first1=Robert E |title=China needs to play by the rules in green technology trade |url=https://www.epi.org/publication/china_needs_to_play_by_the_rules_in_green_technology_trade/ |agency=EPI |date=September 14, 2010}}</ref> and the Washington Post<ref>{{cite news |last1=Meyerson |first1=Harold |title=Time to stand up to China on trade |url=https://www.washingtonpost.com/wp-dyn/content/article/2010/09/14/AR2010091405458.html |agency=Washington Post |work=Washington Post}}</ref> and led to a subsequent investigation by the USTR.<ref>{{cite news |title=Of Chinese Policies in Green Technologies |url=https://news.bloomberglaw.com/daily-labor-report/ustr-initiates-section-301-investigation-of-chinese-policies-in-green-technologies |agency=Bloomberg Law |date=October 18, 2010}}</ref> |
|||
An article in the Washington Post said that before President Obama met with Chinese [[paramount leader]] [[Hu Jintao]] in 2011, top Obama Cabinet officials called for a broad set of changes in Chinese policy, and that there was still concern that the country has not fully accepted the underlying philosophy of the U.S.-led global trading system.<ref name=WP-China-3>[https://www.washingtonpost.com/national-economy/wisconsin_firm_learns_ups_and_downs_of_doing_business_in_china/2011/01/14/ABYIXhD_story.html "Wisconsin firm learns ups and downs of doing business in China"], ''Washington Post'', Feb. 26, 2011</ref> |
|||
Some academics have attributed the loss of US manufacturing employment from the beginning of the 21st century to the accession of China into WTO.<ref>{{cite news |last1=Houseman |first1=Susan N. |title=Is Automation Really to Blame for Lost Manufacturing Jobs? |url=https://www.foreignaffairs.com/articles/2018-09-07/automation-really-blame-lost-manufacturing-jobs |agency=Foreign Policy |date=September 7, 2018}}</ref><ref>{{cite journal |author1=Justin R. Pierce |author2=Peter K. Schott |title=The Surprisingly Swift Decline of US Manufacturing Employment |journal=American Economic Review |volume=106 |issue=7 |pages=1632–1662 |publisher= American Economic Association}}</ref><ref>{{cite journal |title=Import Competition and the Great US Employment Sag of the 2000s |journal=Journal of Labor Economics |date=2016 |volume=34 |issue=No 1, pt 2 |page=141–198 |publisher=University of Chicago}}</ref> |
|||
=== Trump administration's complaints === |
=== Trump administration's complaints === |
||
Line 71: | Line 52: | ||
In supporting tariffs as president, he said that China was costing the American economy hundreds of billions of dollars a year because of unfair trade practices. After imposing tariffs, he denied entering into a [[trade war]], saying the "trade war was lost many years ago by the foolish, or incompetent, people who represented the U.S." He said that the U.S. has a [[trade deficit]] of $500 billion a year, with intellectual property (IP) theft costing an additional $300 billion. "We cannot let this continue," he said.<ref name=":2">{{Cite web |url=https://www.theguardian.com/business/2018/apr/04/trump-china-trade-war-concerns-import-taxes-stock-market |title = Trump plays down US-China trade war concerns: 'When you're $500bn down you can't lose' |last=Smith |first=David|date=April 4, 2018|website=The Guardian |access-date=May 28, 2018 }}</ref><ref name=":3">{{cite news |url=https://www.cnbc.com/2018/04/04/commerce-secretary-wilbur-ross-china-tariffs-amount-to-0-point-3-percent-of-us-gdp.html |title = Commerce Secretary Wilbur Ross: China tariffs amount to only 0.3% of US GDP |last = Lovelace Jr. |first = Berkeley |date=April 4, 2018 |publisher=CNBC |access-date=May 28, 2018 }}</ref> Former White House Counsel, [[Jim Schultz]], said that "through multiple presidential administrations — Clinton, Bush and Obama — the United States has naively looked the other way while China cheated its way to an unfair advantage in the international trade market."<ref name=CNN-Business-2>[https://www.cnn.com/2019/08/15/perspectives/trade-war-trump-triumph/index.html "Trump's trade war with China will be worth the fight"], ''CNN Business'', August 23, 2019</ref> |
In supporting tariffs as president, he said that China was costing the American economy hundreds of billions of dollars a year because of unfair trade practices. After imposing tariffs, he denied entering into a [[trade war]], saying the "trade war was lost many years ago by the foolish, or incompetent, people who represented the U.S." He said that the U.S. has a [[trade deficit]] of $500 billion a year, with intellectual property (IP) theft costing an additional $300 billion. "We cannot let this continue," he said.<ref name=":2">{{Cite web |url=https://www.theguardian.com/business/2018/apr/04/trump-china-trade-war-concerns-import-taxes-stock-market |title = Trump plays down US-China trade war concerns: 'When you're $500bn down you can't lose' |last=Smith |first=David|date=April 4, 2018|website=The Guardian |access-date=May 28, 2018 }}</ref><ref name=":3">{{cite news |url=https://www.cnbc.com/2018/04/04/commerce-secretary-wilbur-ross-china-tariffs-amount-to-0-point-3-percent-of-us-gdp.html |title = Commerce Secretary Wilbur Ross: China tariffs amount to only 0.3% of US GDP |last = Lovelace Jr. |first = Berkeley |date=April 4, 2018 |publisher=CNBC |access-date=May 28, 2018 }}</ref> Former White House Counsel, [[Jim Schultz]], said that "through multiple presidential administrations — Clinton, Bush and Obama — the United States has naively looked the other way while China cheated its way to an unfair advantage in the international trade market."<ref name=CNN-Business-2>[https://www.cnn.com/2019/08/15/perspectives/trade-war-trump-triumph/index.html "Trump's trade war with China will be worth the fight"], ''CNN Business'', August 23, 2019</ref> |
||
Among the unfair trade practices asserted by the Trump administration is the theft of U.S. [[intellectual property]] (IP).<ref name=CNN-Business>[https://money.cnn.com/2018/03/23/technology/china-us-trump-tariffs-ip-theft/index.html "How much has the US lost from China's IP theft?"], ''CNN Business'', March 23, 2018 |
Among the unfair trade practices asserted by the Trump administration is the theft of U.S. [[intellectual property]] (IP).<ref name=CNN-Business>[https://money.cnn.com/2018/03/23/technology/china-us-trump-tariffs-ip-theft/index.html "How much has the US lost from China's IP theft?"], ''CNN Business'', March 23, 2018</ref> An article in CNN said that a seven-months investigation into China's intellectual property theft conducted by the United States Trade Representative estimated the costs to the U.S. from IP theft to be between $225 billion and $600 billion annually.<ref name=CNN-Business/> |
||
Technology is considered the most important part of the U.S. economy.<ref name=WP-China>[https://www.washingtonpost.com/opinions/the-united-states-is-finally-confronting-chinas-economic-aggression/2018/03/25/3e0a2188-2f72-11e8-b0b0-f706877db618_story.html "The United States is finally confronting China’s economic aggression"], ''Washington Post'', March 25, 2018</ref> According to U.S. Trade Representative [[Robert E. Lighthizer]], China maintains a policy of "forced technology transfer," along with practicing "state capitalism," including buying U.S. technology companies and using cybertheft to gain technology.<ref name=WP-China/> As a result, officials in the Trump administration were, by early 2018, taking steps to prevent Chinese state-controlled companies from buying American technology companies and were trying to stop American companies from handing over their key technologies to China as a cost of entering their market.<ref name=WP-China/> According to political analyst [[Josh Rogin]]: "There was a belief that China would develop a private economy that would prove compatible with the WTO system. Chinese leadership has made a political decision to do the opposite. So now we have to respond."<ref name=WP-China/> |
Technology is considered the most important part of the U.S. economy.<ref name=WP-China>[https://www.washingtonpost.com/opinions/the-united-states-is-finally-confronting-chinas-economic-aggression/2018/03/25/3e0a2188-2f72-11e8-b0b0-f706877db618_story.html "The United States is finally confronting China’s economic aggression"], ''Washington Post'', March 25, 2018</ref> According to U.S. Trade Representative [[Robert E. Lighthizer]], China maintains a policy of "forced technology transfer," along with practicing "state capitalism," including buying U.S. technology companies and using cybertheft to gain technology.<ref name=WP-China/> As a result, officials in the Trump administration were, by early 2018, taking steps to prevent Chinese state-controlled companies from buying American technology companies and were trying to stop American companies from handing over their key technologies to China as a cost of entering their market.<ref name=WP-China/> According to political analyst [[Josh Rogin]]: "There was a belief that China would develop a private economy that would prove compatible with the WTO system. Chinese leadership has made a political decision to do the opposite. So now we have to respond."<ref name=WP-China/> |
||
Line 79: | Line 60: | ||
Over half of the members of the [[American Chamber of Commerce in the People's Republic of China]] thought that leakage of intellectual property was an important concern when doing business there.<ref name="Oh">{{Cite web |url=https://www.marketwatch.com/story/why-is-the-us-accusing-china-of-stealing-intellectual-property-2018-04-05|title=Why is the U.S. accusing China of stealing intellectual property?|last=Oh |first=Sunny|website=MarketWatch|language=en-US|access-date=2019-06-03}}</ref> |
Over half of the members of the [[American Chamber of Commerce in the People's Republic of China]] thought that leakage of intellectual property was an important concern when doing business there.<ref name="Oh">{{Cite web |url=https://www.marketwatch.com/story/why-is-the-us-accusing-china-of-stealing-intellectual-property-2018-04-05|title=Why is the U.S. accusing China of stealing intellectual property?|last=Oh |first=Sunny|website=MarketWatch|language=en-US|access-date=2019-06-03}}</ref> |
||
In August 2017, Robert Lighthizer investigated China's alleged unfair trade practices.<ref name=":11">{{cite web |url=https://www.vox.com/policy-and-politics/2017/8/21/16143350/trump-china-section-301-trade|title=Trump's new attack on the Chinese economy, explained|last=Aleem|first=Zeeshan|date=2017-08-21|website=Vox|access-date=2019-05-26}}</ref><ref name="Alexander">Blair, Dennis; Alexander, Keith. [https://www.nytimes.com/2017/08/15/opinion/china-us-intellectual-property-trump.html "China's Intellectual Property Theft Must Stop"], ''The New York Times'', August 15, 2017</ref><ref name=":16">{{cite news|url=https://money.cnn.com/2018/03/23/technology/china-us-trump-tariffs-ip-theft/index.html|title=How much has the US lost from China's intellectual property theft?|last1=Pham|first1=Sherisse|date=March 23, 2018|work=CNNMoney}}</ref> |
|||
Initiating steel and aluminum tariff actions in March 2018, Trump said "trade wars are good, and easy to win,"<ref>{{Cite web|url=https://www.nytimes.com/2018/03/02/business/trump-calls-trade-wars-good-and-easy-to-win.html|title=Trump Calls Trade Wars 'Good' and 'Easy to Win'|first=Ana|last=Swanson|date=March 2, 2018 |website=NYTimes.com}}</ref> but as the conflict continued to escalate through August 2019, Trump stated, "I never said China was going to be easy."<ref>{{Cite web|url=https://www.nytimes.com/2019/08/15/us/politics/trump-rally.html|title=Citing Economy, Trump Says That 'You Have No Choice but to Vote for Me'|first1=Maggie|last1=Haberman|first2=Peter|last2=Baker|date=August 15, 2019 |website=NYTimes.com}}</ref><ref>{{Cite web|url=https://www.cnn.com/2019/08/24/politics/donald-trump-china-trade-war-xi-jinping/index.html|title=Trump's China trade war spirals as 2020 looms|author=Analysis by Stephen Collinson and Donna Borak|website=CNN}}</ref> |
Initiating steel and aluminum tariff actions in March 2018, Trump said "trade wars are good, and easy to win,"<ref>{{Cite web|url=https://www.nytimes.com/2018/03/02/business/trump-calls-trade-wars-good-and-easy-to-win.html|title=Trump Calls Trade Wars 'Good' and 'Easy to Win'|first=Ana|last=Swanson|date=March 2, 2018 |website=NYTimes.com}}</ref> but as the conflict continued to escalate through August 2019, Trump stated, "I never said China was going to be easy."<ref>{{Cite web|url=https://www.nytimes.com/2019/08/15/us/politics/trump-rally.html|title=Citing Economy, Trump Says That 'You Have No Choice but to Vote for Me'|first1=Maggie|last1=Haberman|first2=Peter|last2=Baker|date=August 15, 2019 |website=NYTimes.com}}</ref><ref>{{Cite web|url=https://www.cnn.com/2019/08/24/politics/donald-trump-china-trade-war-xi-jinping/index.html|title=Trump's China trade war spirals as 2020 looms|author=Analysis by Stephen Collinson and Donna Borak|website=CNN}}</ref> |
||
[[Peter Navarro]], White House [[Office of Trade and Manufacturing Policy]] Director, explained that the tariffs are "purely defensive measures" to reduce the trade deficit.<ref>[https://www.youtube.com/watch?v=LGbgNKtBJG8 "Trump tariffs on Chinese goods fulfill campaign promise: Peter Navarro], ''Fox Business'', June 19, 2018</ref> He says that the cumulative trillions of dollars that Americans transfer overseas as a result of yearly deficits are then used by those countries to buy America's assets, as opposed to investing that money in the U.S. "If we do as we're doing . . . those trillions of dollars are in the hands of foreigners that they can then use to buy up America."<ref>[https://www.cnbc.com/video/2018/03/15/peter-navarro-talks-trade-and-tariffs.html "Peter Navarro talks trade and tariffs"], ''CNBC'', March 15, 2018</ref> |
[[Peter Navarro]], White House [[Office of Trade and Manufacturing Policy]] Director, explained that the tariffs are "purely defensive measures" to reduce the trade deficit.<ref>[https://www.youtube.com/watch?v=LGbgNKtBJG8 "Trump tariffs on Chinese goods fulfill campaign promise: Peter Navarro], ''Fox Business'', June 19, 2018</ref> He says that the cumulative trillions of dollars that Americans transfer overseas as a result of yearly deficits are then used by those countries to buy America's assets, as opposed to investing that money in the U.S. "If we do as we're doing . . . those trillions of dollars are in the hands of foreigners that they can then use to buy up America."<ref>[https://www.cnbc.com/video/2018/03/15/peter-navarro-talks-trade-and-tariffs.html "Peter Navarro talks trade and tariffs"], ''CNBC'', March 15, 2018</ref> |
||
=== European Commission allegations === |
|||
The [[European Commission]] filed a complaint with the [[World Trade Organization]] over these rules in 2018, arguing that foreign companies are forced or induced to transfer IP to their Chinese partner, and establish research and development in China, as "performance requirements" to receive government approval in sectors such as [[electric vehicles]]. The EU believes that this violates WTO rules requiring fair treatment of domestic and foreign companies.<ref name="reuters-wtoftt">{{Cite news|url=https://www.reuters.com/article/us-eu-china-wto-idUSKCN1OJ1AP|title=EU expands WTO case against Chinese technology transfers|date=2018-12-20|work=Reuters|access-date=2019-06-03|language=en}}</ref> |
|||
=== China's response and counter-allegations=== |
=== China's response and counter-allegations=== |
Revision as of 17:36, 1 September 2020
![]() | This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
|
China–United States trade war | |||||||
---|---|---|---|---|---|---|---|
![]() | |||||||
Simplified Chinese | 中美贸易战 | ||||||
Traditional Chinese | 中美貿易戰 | ||||||
| |||||||
China–United States trade dispute | |||||||
Simplified Chinese | 中美贸易争端 | ||||||
Traditional Chinese | 中美貿易爭端 | ||||||
|
The China–United States trade war (Chinese: 中美贸易战; pinyin: Zhōngměi Màoyìzhàn) is an ongoing economic conflict between China and the United States. President Donald Trump in 2018 began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are "unfair trade practices".[1] Among those trade practices and their effects are the growing trade deficit, and alleged theft of intellectual property and forced transfer of American technology to China.[2] In response to US trade measures, the Chinese government has accused the Trump administration of engaging in protectionism.[3] On January 15, 2020, the two sides reached a phase one agreement, but tensions persisted.
Since the 1980s, Trump has advocated tariffs to reduce the U.S. trade deficit and promote domestic manufacturing, saying the country was being "ripped off" by its trading partners; imposing tariffs became a major plank of his presidential campaign. A backgrounder by the Council of Foreign Relations said that while many economists and trade experts did not believe that trade deficits hurt the economy, others believed that sustained trade deficits were often a problem, and there was substantial debate over how much of the trade deficit is caused by foreign governments, as well as what policies, if any, should be pursued to reduce it.[4] Nearly all economists who responded to surveys conducted by the Associated Press and Reuters said that Trump's tariffs would do more harm than good to the economy of the United States,[5][6] and some economists advocated for alternate means for the United States to address its trade deficit with China.[4][7][8][9][10]
The trade war has negatively impacted the economies of both the United States and China.[11][12][13] In the United States, it has led to higher prices for consumers and financial difficulties for farmers. In China, the trade war contributed to a slowdown in the rate of economic and industrial output growth, which had already been on a decline. Many American companies have shifted supply chains to elsewhere in Asia, bringing fears that the trade war would lead to a US-China economic ‘decoupling’.[14] In other countries the trade war has also caused economic damage, though some countries have benefited from increased manufacturing to fill the gaps. It has also led to stock market instability. Governments around the world have taken steps to address some of the damage caused by the economic conflict.[15][16][17][18]
Internationally, there has been support for the end goal of the Trump administration's trade war of trying to change China's trade policies, while there has also been criticism of the use of tariffs and the trade war's negative economic impact. Among American industries, U.S. businesses and agricultural industries have opposed the trade war, though most farmers continued to support Trump. Among U.S. politicians, some have disagreed with the tactics Trump is employing, but most agree with the goal of putting pressure on China.[19] As of late November 2019, none of the leading Democratic candidates for president said they would remove the tariffs, including Joe Biden and Elizabeth Warren, both of whom agreed the U.S. had to confront what they see as China's unfair trade policies.[20]
Background
![](http://upload.wikimedia.org/wikipedia/commons/thumb/1/19/China_USA_trade.png/220px-China_USA_trade.png)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/c/c9/United_States_Balance_of_Trade_Deficit-pie_chart.svg/220px-United_States_Balance_of_Trade_Deficit-pie_chart.svg.png)
The United States and China are the world's two largest economies;[21] the US has a larger nominal GDP, whereas China has a larger GDP when measured in terms of purchasing power parity. The United States is the world's largest importer, while China is the second largest.[22] China is the world's largest exporter.[23] Together, they represent close to 40% of world GDP, and they are important pillars for the global economy.[24]
According to an article in the Nikkei Asian Review, when the U.S. needed to issue a huge volume of bonds to stabilize the financial markets in the wake of the 2007–2008 financial crisis, it relied on China.[25]
China joins the World Trade Organization
![](http://upload.wikimedia.org/wikipedia/commons/thumb/6/68/Clinton_and_jiang.jpg/210px-Clinton_and_jiang.jpg)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/1/12/President_of_People%27s_Republic_of_China_Hu.jpg/210px-President_of_People%27s_Republic_of_China_Hu.jpg)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Xi_Jinping_and_Barack_Obama_toast_at_White_House_state_dinner_September_2015.jpg/210px-Xi_Jinping_and_Barack_Obama_toast_at_White_House_state_dinner_September_2015.jpg)
With the United States–China Relations Act of 2000, China was allowed to join WTO in 2001 and was given a most favoured nation (MFN) status.[26][27]
Trump administration's complaints
Since the 1980s, President Trump has frequently advocated tariffs to reduce the U.S. trade deficit and promote domestic manufacturing, saying the country was being "ripped off" by its trading partners, and imposing tariffs was a major plank of his presidential campaign.[28][29][30][31][32] In early 2011, he stated that because China has manipulated their currency, "it is almost impossible for our companies to compete with Chinese companies."[33] At the time, Alan Tonelson, of the U.S. Business and Industry Council, said the degree of Chinese undervaluation was at least 40%, saying that tariffs were the only way to fix this: "Nothing else has worked, nothing else will work."[33] In 2017, the U.S. had a $336 billion trade deficit with China and a $566 billion trade deficit overall.[34]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Secretary_Ross_Meets_with_Minister_of_Industry_and_Information_Technology_Miao_Wei_%2837259919406%29.jpg/220px-Secretary_Ross_Meets_with_Minister_of_Industry_and_Information_Technology_Miao_Wei_%2837259919406%29.jpg)
In supporting tariffs as president, he said that China was costing the American economy hundreds of billions of dollars a year because of unfair trade practices. After imposing tariffs, he denied entering into a trade war, saying the "trade war was lost many years ago by the foolish, or incompetent, people who represented the U.S." He said that the U.S. has a trade deficit of $500 billion a year, with intellectual property (IP) theft costing an additional $300 billion. "We cannot let this continue," he said.[35][36] Former White House Counsel, Jim Schultz, said that "through multiple presidential administrations — Clinton, Bush and Obama — the United States has naively looked the other way while China cheated its way to an unfair advantage in the international trade market."[37]
Among the unfair trade practices asserted by the Trump administration is the theft of U.S. intellectual property (IP).[38] An article in CNN said that a seven-months investigation into China's intellectual property theft conducted by the United States Trade Representative estimated the costs to the U.S. from IP theft to be between $225 billion and $600 billion annually.[38]
Technology is considered the most important part of the U.S. economy.[39] According to U.S. Trade Representative Robert E. Lighthizer, China maintains a policy of "forced technology transfer," along with practicing "state capitalism," including buying U.S. technology companies and using cybertheft to gain technology.[39] As a result, officials in the Trump administration were, by early 2018, taking steps to prevent Chinese state-controlled companies from buying American technology companies and were trying to stop American companies from handing over their key technologies to China as a cost of entering their market.[39] According to political analyst Josh Rogin: "There was a belief that China would develop a private economy that would prove compatible with the WTO system. Chinese leadership has made a political decision to do the opposite. So now we have to respond."[39]
Lighthizer said that the value of the tariffs imposed was based on U.S. estimates of the actual economic damage caused by alleged theft of intellectual property and foreign-ownership restrictions that require foreign companies to transfer technology.[40][41] Such forced Joint ventures give Chinese companies illicit access to American technology.[52]
Over half of the members of the American Chamber of Commerce in the People's Republic of China thought that leakage of intellectual property was an important concern when doing business there.[53]
In August 2017, Robert Lighthizer investigated China's alleged unfair trade practices.[54][55][56]
Initiating steel and aluminum tariff actions in March 2018, Trump said "trade wars are good, and easy to win,"[57] but as the conflict continued to escalate through August 2019, Trump stated, "I never said China was going to be easy."[58][59]
Peter Navarro, White House Office of Trade and Manufacturing Policy Director, explained that the tariffs are "purely defensive measures" to reduce the trade deficit.[60] He says that the cumulative trillions of dollars that Americans transfer overseas as a result of yearly deficits are then used by those countries to buy America's assets, as opposed to investing that money in the U.S. "If we do as we're doing . . . those trillions of dollars are in the hands of foreigners that they can then use to buy up America."[61]
China's response and counter-allegations
The Chinese government has denied forced transfer of IP is a mandatory practice, and acknowledged the impact of domestic R&D performed in China.[62] Former U.S. treasury secretary Larry Summers assessed that Chinese leadership in some technological fields was the result of "huge government investment in basic science" and not "theft" of U.S. properties.[63] In March 2019, the National People's Congress endorsed a new foreign investment bill, to take effect in 2020, which explicitly prohibits the forced transfer of IP from foreign companies, and grants stronger protection to foreign intellectual property and trade secrets. China had also planned to lift restrictions on foreign investment in the automotive industry in 2022. AmCham China policy committee chair Lester Ross criticized the bill, saying the text of the bill was "rushed" and "broad", and also criticizied a portion of the bill that granted the country power to retaliate against countries that impose restrictions on Chinese companies.[64][65][66]
The Chinese government has blamed the American government for starting the conflict and said that U.S. actions were making negotiations difficult. They say the trade war has had a negative effect on the world and that the U.S. government's real goal is to stifle China's growth.[67]
Chronology
![](http://upload.wikimedia.org/wikipedia/commons/thumb/e/ea/Peter_Navarro%2C_Director_of_the_White_House_National_Trade_Council%2C_Addresses_in_the_Oval_Office_before_U.S._President_Donald_Trump_Signs_Executive_Orders_Regarding_Trade_on_March_31%2C_2017_4.jpg/220px-thumbnail.jpg)
2018
- January 22: Trump announced tariffs on solar panels and washing machines.[70] About 8% of American solar panel imports in 2017 came from China.[71] Imports of residential washing machines from China totaled about $1.1 billion in 2015.[72]
- March 1: Trump announced steel and aluminum tariffs on imports from all countries.[73] The United States had imported about 3% of its steel from China.[74] The announcement drew criticism from the editorial board of the Wall Street Journal, which called the executive order "the biggest policy blunder of his Presidency."[75]
- March 22: Trump asked the United States trade representative (USTR) to investigate applying tariffs on US$50–60 billion worth of Chinese goods.[76][77][78] He relied on Section 301 of the Trade Act of 1974 for doing so, stating that the proposed tariffs were "a response to the unfair trade practices of China over the years", including theft of U.S. intellectual property.[79][76] Over 1,300 categories of Chinese imports were listed for tariffs, including aircraft parts, batteries, flat-panel televisions, medical devices, satellites, and various weapons.[80][81]
- April 2: Ministry of Commerce of China responded by imposing tariffs on 128 products it imports from America, including aluminum, airplanes, cars, pork, and soybeans (which have a 25% tariff), as well as fruit, nuts, and steel piping (15%).[82][83][84] U.S. commerce secretary Wilbur Ross said that the planned Chinese tariffs only reflected 0.3% of U.S. gross domestic product, and Press Secretary Sarah Huckabee Sanders stated that the moves would have "short-term pain" but bring "long-term success".[35][36][85][86] On April 5, 2018, Trump responded saying that he was considering another round of tariffs on an additional $100 billion of Chinese imports as Beijing retaliates.[87] The next day the World Trade Organization received request from China for consultations on new U.S. tariffs.[88]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/de/President_Trump_Talks_Trade_with_the_Vice_Premier_of_the_People%E2%80%99s_Republic_of_China%2C_Liu_He%2C_2018_%2827309127577%29.jpg/220px-President_Trump_Talks_Trade_with_the_Vice_Premier_of_the_People%E2%80%99s_Republic_of_China%2C_Liu_He%2C_2018_%2827309127577%29.jpg)
- May 15: Vice Premier and Politburo member Liu He, top economic adviser to president of China and General Secretary Xi Jinping, visited Washington for further trade talks.[78][89]
- May 20: Chinese officials agreed to "substantially reduce" America's trade deficit with China[89] by committing to "significantly increase" its purchases of American goods. As a result, Treasury Secretary Steven Mnuchin announced that "We are putting the trade war on hold".[90] White House National Trade Council director Peter Navarro, however, said that there was no "trade war," but that it was a "trade dispute, fair and simple. We lost the trade war long ago."[91]
- May 21: Trump tweeted that "China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products," although he later clarified the purchases were contingent upon the closure of a "potential deal."[92]
- May 29: The White House announced that it would impose a 25% tariff on $50 billion of Chinese goods with "industrially significant technology;" the full list of products affected to be announced by June 15.[93] It also planned to impose investment restrictions and enhanced export controls on certain Chinese individuals and organizations to prevent them from acquiring U.S. technology.[94] China said it would discontinue trade talks with Washington if it imposed trade sanctions."[95]
- June 15: Trump declared that the United States would impose a 25% tariff on $50 billion of Chinese exports. $34 billion would start July 6, 2018, with a further $16 billion to begin at a later date.[96][97][98] China's Commerce Ministry accused the United States of launching a trade war and said China would respond in kind with similar tariffs for US imports, starting on July 6.[99] Three days later, the White House declared that the United States would impose additional 10% tariffs on another $200 billion worth of Chinese imports if China retaliated against these U.S. tariffs.[78] The list of products included in this round of tariffs was released on July 11, 2018, and was set to be implemented within 60 days.[100]
- June 19: China retaliates, threatening its own tariffs on $50 billion of U.S. goods, and stating that the United States had launched a trade war. Import and export markets in a number of nations feared the tariffs would disrupt supply chains which could "ripple around the globe."[101]
- July 6: American tariffs on $34 billion of Chinese goods came into effect. China imposed retaliatory tariffs on US goods of a similar value. The tariffs accounted for 0.1% of the global gross domestic product.[102][103] On July 10, 2018, U.S. released an initial list of the additional $200 billion of Chinese goods that would be subject to a 10% tariff.[104] Two days later, China vowed to retaliate with additional tariffs on American goods worth $60 billion annually.[105]
- August 8: The Office of the United States Trade Representative published its finalized list of 279 Chinese goods, worth $16 Billion, to be subject to a 25% tariff from August 23.[78][106][107] In response, China imposed 25% tariffs on $16 billion of imports from the US, which was implemented in parallel with the US tariffs on August 23.[108]
- August 14: China filed a complaint with the World Trade Organization (WTO), stating that US tariffs on foreign solar panels clash with WTO ruling and have destabilized the international market for solar PV products. China stated that the resulting impact directly harmed China's legitimate trade interests. Peng Peng, a researcher with the China Renewable Energy Industry Association said that the solar problem has existed for years and thought that China chose to bring it up in order to keep up the rhythm of the trade dispute.[109]
- August 22: US treasury undersecretary David Malpass and Chinese commerce vice-minister Wang Shouwen met in Washington, D.C. in a bid to reopen negotiations. Meanwhile, on August 23, 2018, the US and China's promised tariffs on $16 billion of goods took effect,[110] and on August 27, 2018, China filed a new WTO complaint against the US regarding the additional tariffs.[111]
- September 17: The US announced its 10% tariff on $200 billion worth of Chinese goods would begin on September 24, 2018, increasing to 25% by the end of the year. They also threatened tariffs on an additional $267 billion worth of imports if China retaliates,[112] which China promptly did on September 18 with 10% tariffs on $60 billion of US imports.[113][114] So far, China has either imposed or proposed tariffs on $110 billion of U.S. goods, representing most of its imports of American products.[112]
- November 10, 2018 - White House National Trade Council director Peter Navarro alleged that a group of Wall Street billionaires are conducting an influence operation on behalf of the Chinese government by weakening the president and the U.S. negotiating position, and urged them to invest in the rust belt.[115][116]
- November 30: President Trump signed the revised U.S.–Mexico–Canada Agreement in Buenos Aires, Argentina. The USMCA contains a "rules of origin" provision for automobile that was "touted by the Trump administration as a tool to keep out Chinese inputs and encourage production and investment in the US and North America."[117] Jorge Guajardo, former Mexican ambassador to China said "One thing the Chinese have had to acknowledge is that it wasn't a Trump issue; it was a world issue. Everybody's tired of the way China games the trading system and makes promises that never amount to anything."[118]
- December 1: The planned increases in tariffs were postponed. The White House stated that both parties will "immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft."[119][120] According to the Trump Administration, "If at the end of [90 days], the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent."[121][122] The U.S. trade representative's office confirmed the hard deadline for China's structural changes is March 1, 2019.[123][124]
- December 4: New York Fed president John Williams said that he believed the US economy will stay strong in 2019.[125] Williams expects that increases in the interest rates will be necessary to maintain the economy. He stated, "Given this outlook of strong growth, strong labor market and inflation near our goal and taking account all the various risks around the outlook, I do expect further gradual increases in interest rates will best sponsor a sustained economic expansion."[125]
- December 11: Trump announced China was buying a "tremendous amount" of U.S. soybeans. Commodities traders saw no evidence of such purchases, and over the next six months soybean exports to China were about one quarter what they were in 2017, before the trade conflict began.[126] China reportedly considered purchases of American farm goods as contingent upon closing a comprehensive trade deal.[127]
2019
- January 14: An article in the Wall Street Journal reports that in China's 2018 trade surplus with the United States was a record $323.32 billion despite Trump's tariffs.[128]
- March 6: The U.S. Department of Commerce stated that in 2018 the U.S. trade deficit with China reached $621 billion, the highest it had been since 2008.[129]
- May 5: Trump stated that the previous tariffs of 10% levied in $200 billion worth of Chinese goods would be raised to 25% on May 10.[130] With notification by USTR, the Federal Register on May 9 published the modification of duty on or after 12:01 a.m. Eastern Time Zone May 10 to 25% for the products of China covered by the September 2018 action.[131] The stated reason being that China reneged upon already agreed upon deals.[132]
- May 15: Trump signed executive order 13873, which, according to Reuters, banned Huawei from buying vital U.S. technology without special approval and effectively barred its equipment from U.S. telecom networks on national security grounds.[133][134]
- June 1: China will raise tariffs on $60 billion worth of US goods.[135]
- June 29: During the G20 Osaka summit, Trump announces he and Xi Jinping agreed to a "truce" in the trade war after extensive talks. Prior tariffs are to remain in effect, but no future tariffs are to be enacted "for the time being" amid restarted negotiations. Additionally, Trump said he would allow American companies to sell their products to Huawei, but the company would remain on the U.S. trade blacklist.[136] However, the extent of how much this plan to temporarily exempt Huawei from previous bans would be implemented later became unclear and, in the weeks later, there was no clear indication of the reversal of Huawei bans.[137][138]
- June 29: After a meeting with Chinese leader Xi Jinping, Trump announces "China is going to be buying a tremendous amount of food and agricultural product, and they're going to start that very soon, almost immediately."[139] China disputed making such a commitment and one month later no such purchases had materialized.[127][140]
- July 11: Trump tweeted "China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would." People familiar with the trade negotiations said China had made no firm commitments to purchase farm goods unless it was part of a comprehensive trade agreement.[127]
- July 15: Official figures from China showed its second-quarter GDP growth at its slowest in 27 years.[141]
- July 17: China announced an accelerated decrease in holdings of US treasury holdings, targeting 25% of its current holdings of $1.1 trillion.[142]
- August 1: Trump announced on Twitter that additional 10% tariff will be levied on the "remaining $300 billion of goods".[143]
- August 5: The central bank of China (PBOC) let the Renminbi fall over 2% in three days to the lowest point since 2008 as it was hit by strong sales due to the threat of tariffs.[144]
- August 5: The U.S. Department of Treasury officially declared China as a Currency Manipulator after the People's Bank of China allowed its yuan to depreciate that, according to CNN, was seen as retaliation to Trump's August 1 tariff announcement.[145] According to an article in the Washington POst, Trump reportedly pressured the Treasury Department Steven Mnuchin to authorize the designation. Both the IMF and the Chinese government have rejected the designation, with the IMF saying that the valuation of the yuan are in line with China's economic fundamentals.[144][146]
- August 5: China ordered state-owned enterprises to stop buying US agricultural products in retaliation to Trump's August 1 tariff announcement.[147] Zippy Duvall, president of the American Farm Bureau Federation, called the move "a body blow to thousands of farmers and ranchers who are already struggling to get by," adding, "Farm Bureau economists tell us exports to China were down by $1.3 billion during the first half of the year. Now, we stand to lose all of what was a $9.1 billion market in 2018, which was down sharply from the $19.5 billion U.S. farmers exported to China in 2017."[148]
- August 13: Official figures from China showed its industrial output growth falling amid the trade war to a 17-year low.[149]
- August 13: Trump delayed some of the tariffs. $112 billion worth will still take place on September 1 (which means that on September 1, $362 billion total worth, including the newly imposed $112 billion, of Chinese products will face a tariff), but the additional, not yet imposed, $160 billion will not take effect until December 15.[150] Trump and his advisors Peter Navarro, Wilbur Ross and Larry Kudlow said that the tariffs were postponed to avoid harming American consumers during the Christmas shopping season.[151]
- August 23: Chinese Ministry of Finance announced new rounds of retaliative tariffs on $75 billion worth of U.S. goods, effective beginning September 1.[152]
- August 23: Trump tweeted that he "hereby ordered" American companies to "immediately start looking for an alternative to China". According to an article in the New York Times, Trump's aides said that no order had been drawn up nor was it clear one would be. In a tweet on the following day, Trump said that he had the authority to make good on his threat, citing the International Emergency Economic Powers Act of 1977.[153] Furthermore, tariffs are to be raised from 25% to 30% on the existing $250 billion worth of Chinese goods beginning on October 1, 2019, and from 10% to 15% on the remaining $300 billion worth of goods beginning on December 15, 2019.[154]
- August 26: At the G7 summit, Trump stated, "China called last night our top trade people and said ‘let’s get back to the table’ so we will be getting back to the table and I think they want to do something. They have been hurt very badly but they understand this is the right thing to do and I have great respect for it."[155] Chinese Foreign Ministry spokesman Geng Shuang said he was unaware of such a call[156] and Trump aides later said the call didn't occur but the president was trying to project optimism.[157]
- August 28: Americans for Free Trade, an umbrella group for 161 trade associations across numerous industries,[158] sent Trump a letter asking him to postpone all scheduled tariff increases.[159] The next day, Trump said "badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management."[160]
- September 1: New USA and Chinese tariffs previously announced went into effect at 12:01 pm EST. China imposed 5% to 10% tariffs on one-third of the 5,078 goods it imports from America, with tariffs on the remainder scheduled for December 15.[161] The United States imposed new 15% tariffs on about $112 billion of Chinese imports, such that more than two-thirds of consumer goods imported from China were then subject to tariffs.[162]
- September 4: The Office of the U.S. Trade Representative and Chinese state media confirmed that deputy-level meetings in mid-September would lead to ministerial-level talks in coming weeks.[163][164] At the same time, the United States Department of Commerce issued preliminary antidumping duty determinations on fabricated structural steel from Canada, China, and Mexico. Furthermore, China was found liable for dumping up to 141.38% of fabricated structural steel into the United States and thereby prompted the U.S. Customs and Border Protection to collect cash deposits in the same rate, as instructed by the Commerce Department.[165]
- September 6: The People's Bank of China announces a 0.5 percent reduction in its reserve requirement ratio in response to the slowing of China's economic growth rates caused by the trade war.[166]
- September 11: After China announced it was exempting 16 American product types from tariffs for one year, Trump announced he would delay until October 15 a tariff increase on Chinese goods previously scheduled for October 1. Trump asserted he granted the delay at the request of Chinese vice premier Liu He.[167][168]
- September 12: Bloomberg News and Politico reported that Trump advisors were increasingly concerned that the trade war was weakening the American economy going into the 2020 election campaign and were discussing ways to reach a limited interim deal.[169][170] The Wall Street Journal reported China was seeking to narrow the scope of negotiations to place national security matters on a separate track from trade issues.[171]
- September 26: The Wall Street Journal reported that Chinese retaliatory tariffs on lumber and wood products had caused hardwood lumber exports to China to fall 40% during 2019, resulting in American lumber mills slashing employment.[172] A USDA spokesperson said the organization had provided the industry $5 million in aid through its Agricultural Trade Promotion Program.[173]
- October 7: Citing human rights issues, the United States Department of Commerce puts 20 Chinese public security bureaus and eight high tech companies, such as HikVision, SenseTime and Megvii, on the Export Administration Regulations entities blacklist. Like Huawei, which was sanctioned on an identical blueprint for national security reasons, the entities will need U.S. government approval before they can purchase components from U.S. companies.[174]
- October 11: Trump announced that the United States and China had reached a tentative agreement for the "first phase" of a trade deal, with China agreeing to buy up to $50 billion in American farm products, and to accept more American financial services in their market, with the United States agreeing to suspend new tariffs scheduled for October 15. The deal was expected to be finalized in coming weeks.[175][176] At the same time, Chinese announcements did not express the same confidence,[177] though a few days later the Chinese Foreign Ministry said that the two sides had the same understanding and had reached an agreement.[178]
- October 17: Official figures from China showed its third quarter GDP growth at its slowest in almost 30 years.[179]
- December 13: Both countries announce an initial deal where new tariffs to be mutually imposed on December 15 would not be implemented. China says it "will increase purchases of high-quality agricultural products from the U.S.", while the United States says it will halve the existing 15% tariffs.[180][181][182]
- December 31: The Wall Street Journal reported that the language of the phase one deal was expected to be released after the January 15 signing, and that Lighthizer said some details would be classified.[183]
2020
![](http://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Signing_Ceremony_Phase_One_Trade_Deal_Between_the_U.S._%26_China_%2849391630992%29.jpg/220px-Signing_Ceremony_Phase_One_Trade_Deal_Between_the_U.S._%26_China_%2849391630992%29.jpg)
- January 3: Reuters reported that in December 2019 the American manufacturing sector fell into its deepest slump in over a decade, attributing the decline to the U.S.-China trade war.[184]
- January 15: U.S. President Donald Trump and China's Vice Premier Liu He signed the US–China Phase One trade deal in Washington DC.[185][186] The "Economic and Trade Agreement between the United States of America and the People’s Republic of China" is set to take effect from 14 February 2020 and focuses on intellectual property rights (Chapter 1), technology transfer (Chapter 2), food and agricultural products (Chapter 3), financial services (Chapter 4), exchange rate matters and transparency (Chapter 5), and expanding trade (Chapter 6), with reference also being made to bilateral evaluation and dispute resolution procedures in Chapter 7.[187] Unlike other trade agreements, the US–China Phase One agreement did not rely on arbitration through an intergovernmental organization like the World Trade Organization, but rather through a bilateral mechanism.[188][189]
- January 17: Official figures from China showed its 2019 economic growth rate falling amid the trade war to a 30-year low.[190][191]
- February 5: Data from the Commerce Department of the United States showed the country's trade deficit falling amid the trade war for the first time in 6 years.[192]
- February 17: China grants tariff exemptions on 696 US goods to support purchases.[193]
- March 5: The United States Trade Representative granted exemptions to tariffs on various types of medical equipment, after calls from American lawmakers and others to remove tariffs on these products in light of the COVID-19 pandemic in the United States.[194][195]
- May 12: The Chinese government announced exemptions for tariffs on 79 additional US goods.[196]
- As of June, China had risen to become the United States' top trading partner again, amid the global crisis caused by the COVID-19 pandemic. However, the countries were not on track to meet the targets from the trade deal, which would have been a challenge even under strong economic conditions, according to Chad Brown of the Peterson Institute for International Economics and Chenjun Pan of Rabobank. The economic damage and barriers to trade caused by the pandemic made those targets even harder to reach.[196][197]
Effects
![]() | The examples and perspective in this section may not represent a worldwide view of the subject. (May 2020) |
In April 2018, China announced that it would eliminate laws that required global automakers and shipbuilders to work through state-owned partners.[198] President of China and General Secretary Xi Jinping reiterated those pledges,[199] affirming a desire to increase imports, lower foreign-ownership limits on manufacturing and expand protection to intellectual property, all central issues in Trump's complaints about their trade imbalance.[200] Trump thanked Xi for his "kind words on tariffs and automobile barriers" and "his enlightenment" on intellectual property and technology transfers. "We will make great progress together!" the president added.[200]
By early July 2018, there were negative and positive results already showing up in the economy as a result of the tariffs, with a number of industries showing employment growth while others were planning on layoffs.[201] Regional commentators noted that consumer products were the most likely to be affected by the tariffs. A timeline of when costs would rise was uncertain as companies had to figure out if they could sustain a tariff hike without passing on the costs to consumers.[202]
According to an article in the Wall Street Journal, American farmers have been "felt the brunt of" China's retaliatory trade actions.[197] In response, the New York Times reported that the Trump administration's aid relief for the difficulties faced by the farmers came in the form of cash payments, securing additional trade deals and modifying environmental regulations to benefit corn farmers.[203][204][205] According to the American Farm Bureau, agricultural exports from the US to China decreased from $24 billion in 2014 to $9.1 billion in 2018, including decreases in sales of pork, soybeans, and wheat. Farm bankruptcies have increased, and agricultural equipment manufacturer Deere & Company cut its profit forecast twice between January and August 2019.[203] An August 2019 USDA report showed that as American wheat exports to China dropped, Canadian wheat exports to China rose from 32% to more than 60%.[203][206] Farm equipment manufacturers were negatively affected by the reluctance of farmers to invest in new equipment, with sales dropping significantly during the first quarter of 2019.[207][203] Yet despite the negative effects, polls in July 2019 showed that most farmers continued to support Trump, as 78% of them said they believed the trade war will ultimately benefit U.S. agriculture.[208] The Government Accountability Office announced in February 2020 that it would examine the program, amid reports that aid was being improperly distributed.[209]
According to a study by the National Retail Federation of the United States, a 25% tariff on Chinese furniture alone would cost US consumers an additional $4.6 billion in annual payments.[210]
Analysis conducted by the Peterson Institute for International Economics found that China imposed uniform tariffs averaging 8% on all its importers in January 2018, before the trade war began. By June 2019, tariffs on American imports had increased to 20.7%, while tariffs on other nations declined to 6.7%.[211] The analysis also found that average American tariffs on Chinese goods increased from 3.1% in 2017 to 24.3% by August 2019.[212]
Economic growth has slowed worldwide amid the trade war.[213] The International Monetary Fund's World Economic Outlook report released in April 2019 lowered the global economic growth forecast for 2019 from 3.6% expected in 2018 to 3.3%, and said that economic and trade frictions may further curb global economic growth and continue weaken the investment.[214] According to Capital Economics, China's economic growth has slowed as a result of the trade war, though overall the Chinese economy "has held up well", and China's share of global exports has increased.[215][better source needed] U.S. economic growth has also slowed.[213]
Analysis by Goldman Sachs in May 2019 found that the consumer price index for nine categories of tariffed goods had increased dramatically, compared to a declining CPI for all other core goods.[216]
In August 2019, Trump trade advisor Peter Navarro asserted tariffs were not hurting Americans. Politifact rated Navarro's assertion "Pants on Fire."[217]
Surveys of consumer sentiment and small business confidence showed sharp declines in August 2019 on uncertainty caused by the trade war.[218][219] The closely followed Purchasing Managers' Index for manufacturing from the Institute for Supply Management showed contraction in August, for the first time since January 2016; the ISM quoted several executives expressing anxiety about the continuing trade war, citing shrinking export orders and the challenges of shifting their supply chains out of China. The IHS Markit manufacturing purchasing managers' index also showed contraction in August, for the first time since September 2009.[220] The day the ISM report was released, Trump tweeted, "China’s Supply Chain will crumble and businesses, jobs and money will be gone!"[221][222]
Analysis conducted by Moody's Analytics estimated that through August 2019 300,000 American jobs had either been lost or not created due to the trade war, especially affecting manufacturing, warehousing, distribution and retail.[223]
By September 2019, American manufacturers were reducing their capital investments and delaying hiring due to uncertainty caused by the trade war.[224]
A November 2019 United Nations analysis reported that "the U.S. tariffs on China are economically hurting both countries".[225]
A November 2019 article in the Financial Times said that since August 2019 the trade war hit US manufacturers harder than China’s.[226][needs update]
In December 2019, the South China Morning Post reported that, due to the trade war and the Chinese government's crackdown on shadow banking, Chinese manufacturing investments were expanding at the lowest rate since records began.[227]
The Wall Street Journal reported in February 2020 that the USTR was granting fewer tariff waivers to American firms, down from 35% of requests for the first two tranches of tariffs in 2018 to 3% for the third tranche in 2019.[228]
Overall effects on U.S. economy
The Congressional Budget Office (CBO) reported their estimates of the U.S. economic impact of tariffs (applied to China primarily but other countries as well) in August 2019. By 2020, tariffs would reduce the level of real U.S. GDP by about 0.3%, reduce real consumption by 0.3%, reduce real private investment by 1.3%, and reduce real household income by $580 (about 1%). Real U.S. exports would be 1.7% lower and real imports would be 2.6% lower. CBO explained tariffs reduce U.S. economic activity in three ways: 1) Consumer and capital goods become more expensive; 2) Business uncertainty increases, thereby reducing or slowing investment; and 3) Other countries impose retaliatory tariffs, making U.S. exports more expensive and thus reducing them. CBO estimated the U.S. had imposed tariffs on 11% of imports by January 2018. As of July 25, 2019, retaliatory tariffs had been imposed on 7% of all U.S. goods exports. CBO expects the negative consequences will remain but have a smaller impact in 2029, as businesses adjust their supply chains (i.e., source from countries not affected by tariffs).[229] CBO updated its analysis in January 2020, increasing the forecast reduction in household income in 2020 to $1,277 and the GDP reduction to 0.5%. Consumer prices were also expected to be 0.5% higher.[230]
Stock market
Investor uncertainty due to the trade war has caused turbulence in the stock market.[231][232][233]
On December 4, 2018, the Dow Jones Industrial Average logged its worst day in nearly a month as it declined nearly 600 points, to which some argue is in part due to the trade war.[234] On December 26, the Dow Jones recorded a rise of 1000 points after, according to Reuters, the publication of a report that documented strong holiday sales, although the major indexes were still down more than 10% through the month of December 2018 amid the trade war.[235]
On August 14, 2019, the Dow dropped 800 points, partly caused by increasing trade tensions between the U.S. and China.[236] Nine days later, on August 23, the Dow dropped 623 points on the day that Trump informally ordered American companies to immediately seek alternatives to doing business in China.[237][238] By the end of 2019, stock markets reached record highs, having risen due to the agreement between the United States and China to sign the first phase of a trade deal.[239][240]
Domestic politics
Analysts speculated that the trade war could affect the 2020 United States presidential election, as tariffs have negatively affected farmers, an important constituency for Trump.[241][242] Analysts also speculated on how the trade war affected Xi Jinping in relation to the domestic pressures that he faced.[242]
Other countries
Globally, foreign direct investment has slowed.[243] The trade war has hurt the European economy, particularly Germany, even though trade relations between Germany and China and between Germany and the U.S. remain good.[244] The Canadian economy has seen negative effects as well.[245] Like the U.S., Britain, Germany, Japan, and South Korea were all showing "a weak manufacturing performance" as of 2019.[246] Several Asian governments have instituted stimulus measures to address damage from the trade war, though economists said this may not be effective.[247]
A trade group predicted that demand for semiconductor devices would decline by 12 per cent, as a direct result of the trade war.[248]
Some countries have benefited economically from the trade war, at least in some sectors, due to increasing exports to the United States and China to fill the gaps left by decreasing trade between these two economies. Beneficiaries include Vietnam, Chile, Malaysia, and Argentina.[249] Vietnam is the biggest beneficiary, with technology companies moving manufacturing there.[249][250] South Korea has also benefited from increased electronics exports, Malaysia from semiconductor exports, Mexico from motor vehicles, and Brazil from soybeans.[249] However, US-ASEAN Business Council CEO Alex Feldman warned that even these countries may not benefit long-term, saying that "It's in everyone's interest to see this spat get resolved and go back to normal trade relations between the US and China."[251] Several Taiwanese companies have been expanding production in Taiwan, including Quanta Computer, Sercomm and Wistron, creating over 21,000 jobs.[252] Nintendo has reportedly moved some Nintendo Switch production from China to Southeast Asia.[253]
The trade war has indirectly caused some companies to go bankrupt. One of them, Taiwanese LCD panel manufacturer Chunghwa Picture Tubes (CPT), went bankrupt as a result of an excess supply of panels and a subsequent collapse in prices, which was aided by vulnerability to the trade war (caused by overexpansion in China), a slowing Taiwanese and global economy and a slowdown in the electronics sector.[252][254]
Reactions
![]() |
Chinese domestic reactions
People's Daily, the official newspaper of the Communist Party of China, has stated that China will be able to withstand the trade war, and that Trump's policies are affecting American consumers.[255]
In September 2019, Lu Xiang, an analyst at the state-backed Chinese Academy of Social Sciences, expressed pessimism about the outcome of upcoming talks, called Trump "unpredictable", and said, "We can only try to find sensible clues in his nonsense."[246]
Domestic reporting on the trade war is censored in China. While news outlets are permitted to report on the conflict, their coverage is subject to restrictions.[256] Social media posts about the conflict are subject to censorship as well.[257][258]
The trade war is a common subject on Chinese social media, with one popular Internet meme referencing Thanos, a villain from Marvel Comics and the Marvel Cinematic Universe who wipes out half of all life in the universe using the Infinity Gauntlet, joking that Trump will similarly wipe out half of China's investors.[259][260]
Hong Kong economics professor Lawrence J. Lau argues that a major cause of the trade war is the growing battle between China and the U.S. for global economic and technological dominance. He argues, "It is also a reflection of the rise of populism, isolationism, nationalism and protectionism almost everywhere in the world, including in the US."[261]
United States domestic reactions
Congress
Senate Democratic leader Chuck Schumer praised President Trump's higher tariffs against China's alleged taking advantage of the U.S. and said "Democrats, Republicans, Americans of every political ideology, every region in the country should support these actions." Other Democratic senators who supported Trump's actions include Bob Menendez, Sherrod Brown and Ron Wyden[262][263][264][265][266] Bipartisan support from the House of Representatives for Trump's actions came from Nancy Pelosi.[267][268][269] Brad Sherman,[270] Kevin Brady,[262] and Ted Yoho.[270] Democratic representative Tim Ryan, who has a lifetime 98 percent rating from the AFL-CIO, also supported the Trump tariffs saying, "What China has been doing is bullshit. They’re cheating, they’re subsidizing their product.”[271]
Other Republican senators have given more divided statements. Mitch McConnell said that "nobody wins a trade war" but that there was hope the tactics would "get us into a better position, vis-à-vis China". John Cornyn said, “If this is what it takes to get a good deal, I think people will hang in there, but at some point we’ve got to get it resolved. If this goes on for a long time, everybody realizes it’s playing with a live hand grenade."[272] Joni Ernst said in May 2019 that the "tariffs are hurtful" to farmers, but that they "do want us to find a path forward with China" and said, "We hope that we can get a deal soon".[273]
Other senators from both parties have criticized Trump for the trade war, including Charles E. Grassley,[274] Tim Kaine,[275] Mark Warner,[275] Elizabeth Warren,[276] and Ron Wyden.[19]
Agricultural
Dave Warner, a spokesman for the National Pork Producers Council, said that pork producers had already seen the value of their pigs fall after a previous Chinese tariff and warned that pig producers would likely feel the effect of new tariffs, though it was not yet clear exactly how.[277]
Iowa soybean farmer and president of the American Soybean Association John Heisdorffer called the use of tariffs a "scorched-earth approach", warning that U.S. industries could permanently lose global market share as a result.[277][278]
The mayors of Davenport and St. Gabriel, which represented towns with a heavy reliance on the farming sector, expressed their concerns that the trade war would have on their cities.[277]
In August 2019, Roger Johnson of the National Farmers Union — representing about 200,000 family farmers, ranchers and fishers — stated that the trade war was creating problems for American farmers, specifically highlighting the fall in soybean exports from the U.S. to China.[279][better source needed] In the same month, the American Farm Bureau Federation — representing large agribusiness — said that the announcement of new tariffs "signals more trouble for American agriculture."[280]
Business
In September 2018, a business coalition announced a lobbying campaign called "Tariffs Hurt the Heartland" to protest the proposed tariffs;[281] the tariffs on Chinese steel, aluminum, and certain chemicals contributed to rising fertilizer and agricultural equipment costs in the United States.[282]
In February 2019, a survey released by the American Chamber of Commerce in China showed that a majority of member U.S. companies supported increasing or maintaining tariffs on Chinese goods, and nearly twice as many respondents compared to the year before wanted the U.S. government to push Beijing harder to create a level playing field.[283][284] A further 19 percent of its companies said they were adjusting supply chains or seeking to source components and assembly outside of China as a result of tariffs and 28% were delaying or cancelling investment decisions in China.[283]
Over 600 companies and trade associations, including manufacturers, retailers, and tech companies, wrote to Trump in mid-2019 to ask him to remove tariffs and end the trade war, saying that increased tariffs would have "a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy".[285]
On May 20, 2019, the Footwear Distributors and Retailers of America, an industry trade association for footwear, issued an open letter to President Trump, part of which read: "On behalf of our hundreds of millions of footwear consumers and hundreds of thousands of employees, we ask that you immediately stop this action", referring to the trade war.[286][287]
Americans for Free Trade, a coalition of over 160 business organizations, wrote a letter to Trump in August 2019 requesting that he postpone all tariff rate increases on Chinese goods, citing concerns about cost increases for U.S. manufacturers and farmers. The coalition includes the National Retail Federation, the Consumer Technology Association, Association of Equipment Manufacturers, the Toy Association and American Petroleum Institute, among others.[288]
In September 2019, Matthew Shay, president and CEO of the National Retail Federation, said that the trade war had "gone on far too long" and had harmful effects on American businesses and consumers. He urged the Trump administration to end the trade war and find an agreement to remove all the tariffs.[246]
Hun Quach, vice president of international trade for the Retail Industry Leaders Association has claimed that the tariffs will impact American family budgets by raising the prices of everyday items.[277][289][290]
Manufacturing
The CEOs of American steelmakers Nucor Corp, United States Steel Corp, ArcelorMittal SA and Commercial Metals Co have all supported Trump's steel tariffs against China[291][292] as has the United Steelworkers Union.[293][294][295][296][271] Scott Paul, president of the associated Alliance for American Manufacturing, has also supported tariffs,[277][297] and opposed proposals to reverse them in light of the coronavirus pandemic.[298] In 2019, he criticized the stagnation of trade talks saying "Trump would have ripped any Democrat for that outcome".[299]
James Hoffa Jr., president of the International Brotherhood of Teamsters, has been a proponent of U.S. tariffs against China[300] as has Richard Trumpka, president of AFL-CIO.[271][301][302]
A 2019 statement by the National Association of Manufacturers stated their opposition to the trade war, calling for a new structure for the U.S.–China commercial relationship that would eliminate China's unfair trade practices and level the playing field for manufacturers in the United States.[303] A 2018 Politico article documented the close partnership between the president of NAM Jay Timmons and President Trump and said that Timmons was fighting against Trump's trade war from within.[304]
The vice president of the National Marine Manufacturers Association criticized the tariffs, saying they were "hurting American manufacturers."[281]
Economists and analysts
According to articles in Politifact, most mainstream economists said that "consumers are the primary victims of tariffs"[297] and most economists said that they carry "more risks than benefits".[305] NYU Economics Professor Lawrence J. White has said that import tariffs are equivalent to a tax, and contribute to a higher cost of living.[297][305]
Economic analyst Zachary Karabell has argued that the administration's tariff-based approach would not work as it would not "reverse what has already been transferred and will not do much to address the challenge of China today, which is no longer a manufacturing neophyte" and also argued that the assertion that more rigorous intellectual property protections would "level the playing field" was problematic.[306] He recommended instead that the U.S. focus on its relative advantages of economic openness and a culture of independence.[306]
James Andrew Lewis of the Center for Strategic and International Studies said that what the United States needed from China was its a commitment to observes the rules and norms of international trade and to extend reciprocal treatment to U.S. companies in China.[307]
In an April 2018 article in Forbes, Harry G. Broadman, a former U.S. trade negotiator, said that while he agreed with the Trump administration's basic position that the Chinese did not abide by fair, transparent and market-based rules for global trade, he disagreed with its means of unilaterally employing tariffs and said that the administration should instead pursue a coalition-based approach.[308]
A May 2019 article written by Howard Gleckman of the Tax Policy Center argued that the impact of the trade war would eliminate "most or all" of the benefits from the Tax Cuts and Jobs Act for low- and middle-income households.[309][310]
Economists at financial firm Morgan Stanley expressed uncertainty about how the trade war would end, but warned in June 2019 that it could lead to a recession.[311]
Economist Panos Mourdoukoutas states that China's elites were fighting the trade war under the wrong assumption that China had reached "power parity" with the U.S. and that although an economic divorce between the two countries would have some consequences for the US, it would on the other hand be devastating for China.[312]
After the first phase of a trade deal was agreed upon in December 2019, Mary E. Lovely of the Peterson Institute for International Economics and professor at Syracuse University said the ceasefire was "good news" for the American economy while expressing optimism that the talks would help address China's "unfair" intellectual property practices.[313][314]
Others
The former Vice President Joe Biden said: "While Trump is pursuing a damaging and erratic trade war, without any real strategy, China is positioning itself to lead the world in renewable energy."[315]
An August 2019 Harvard CAPS/Harris Poll found that 67% of registered voters wanted the U.S. to confront Beijing over its trade policies despite the fact that 74% said American consumers were shouldering most of the burden of tariffs. Mark Penn, the co-director of the Harvard CAPS/Harris Poll, said the poll showed strong support amongst the American public for Trump's trade policies against China, saying, “They realize that the tariffs may have negative impacts on jobs and prices, but they believe the fight here is the right one.”[316]
Tariffs on medical supplies have become politically complicated due to the COVID-19 pandemic. The Wall Street Journal, citing Trade Data Monitor to show that China is the leading source of many key medical supplies, raised concerns that US tariffs on imports from China threaten imports of medical supplies into the United States.[317]
International
On June 1, 2018, after similar action by the United States, the European Union launched WTO legal complaints against China which accused it of employing trade practices that discriminated against foreign firms and undermined the intellectual property rights of EU companies. The European commissioner for trade Cecilia Malmström said "We cannot let any country force our companies to surrender this hard-earned knowledge at its border. This is against international rules that we have all agreed upon in the WTO."[318] American, European and Japanese officials have discussed joint strategy and taken actions against unfair competition by China.[319][320][321]
A September 2018 article by Brahma Chellaney said that America's trade war with China should not obscure a broader pushback against China's mercantilist trade, investment, and lending practices.[322]
At the 2018 G20 summit, the trade war was on the agenda for discussion.[323]
A March 2019 Reuters article said that the European Union shared many of the Trump administration's same complaints with regards to China's technology transfer policies and market access constraints and also reported that European diplomats and officials acknowledged support for Trump's goals, even if they disagreed with his tactics.[284]
At the 45th G7 summit, UK Prime Minister Boris Johnson said, "We don't like tariffs on the whole."[324] An article in ABC said that U.S. allies warned Trump during the summit about his trade war with China, but that Trump said he wasn't facing any pressure from his allies over the trade war.[324] European Council President Donald Tusk said the trade war risked causing a global recession.[325]
The Chilean vice minister for trade, Rodrigo Yanez, told CNBC that "It's very important for Chile that a trade deal between the U.S. and China is signed soon".[326]
In the wake of the 2020 Galwan Valley skirmish, Indian commentators made references to the US-China trade war as part of their overall analysis of the effect that the skirmish would have on the future relations between India and China.[327][328][329][330][331][332][333]
See also
- Anti-American sentiment in China
- Anti-Chinese sentiment in the United States
- Chinese espionage in the United States
- Congressional-Executive Commission on China
- Japan–South Korea trade dispute
- Protectionism in the United States
- Rare earths trade dispute
- Second Cold War
- Trump tariffs
References
- ^ Swanson, Ana (July 5, 2018). "Trump's Trade War With China Is Officially Underway". The New York Times. Retrieved May 26, 2019.
- ^ "Findings of the Investigation into China's Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation Under Section 301 of the Trade Act of 1974", Office of the U.S. Trade Representative, March 22, 2018
- ^ Lo, Kinling (September 27, 2019). "China doesn't want to supplant the US, but it will keep growing, Beijing says". South China Morning Post. Retrieved August 11, 2020.
- ^ a b "The U.S. Trade Deficit: How Much Does It Matter?". Council on Foreign Relations.
- ^ Sarkar, Shrutee (March 14, 2018). "Economists united: Trump tariffs won't help the economy". Reuters. Retrieved August 26, 2019.
- ^ Boak, Josh (December 5, 2018). "AP FACT CHECK: Economists say Trump off on tariffs' impact". AP NEWS.
- ^ Freund, Caroline. "Three Ways to Reduce a Trade Deficit". PIIE. Peterson Institute for International Economics. Retrieved November 6, 2017.
- ^ Mankin, Tony. "Policy Options For Addressing the China-US Trade Imbalance". AIIA. Australian Institute of International Affairs. Retrieved August 26, 2019.
- ^ Hass, Ryan. "Trump's focus on China trade: Right target, wrong approach". Brookings Institute. Brookings Institute.
- ^ "CSIS Brief: Beyond the Brink: Escalation and Conflict in U.S.-China Economic Relations". CSIS. CSIS. Retrieved September 25, 2019.
- ^ "Who's Winning the Trade War? Here's a Look at the Scoreboard". Bloomberg. May 23, 2019.
- ^ Nee Lee, Yen (January 1, 2020). "These 6 charts compare the US and China economies in the second year of their trade war". CNBC.
- ^ Laker, Benjamin (February 3, 2020). "Who's Winning The Trade War? And How Will It End?". Fortune.
- ^ Politi, James (January 21, 2020). "Fears rise that US-China economic 'decoupling' is irreversible: many American companies are shifting supply chains to elsewhere in Asia". Financial Times.
- ^ "China–US trade war: Sino-American ties being torn down brick by brick". www.aljazeera.com. Retrieved August 18, 2019.
- ^ "For the U.S. and China, it's not a trade war anymore — it's something worse". Los Angeles Times. May 31, 2019. Retrieved August 18, 2019.
- ^ "NDR 2019: Singapore will be 'principled' in approach to China–US trade dispute; ready to help workers". CNA. Retrieved August 18, 2019.
- ^ Rappeport, Alan; Bradsher, Keith (August 23, 2019). "Trump Says He Will Raise Existing Tariffs on Chinese Goods to 30%". The New York Times. Retrieved August 25, 2019.
- ^ a b Higgins, Sean (August 1, 2019). "Trump's China tariff hike draws mixed reception from lawmakers".
- ^ "'Trade Wars are Good, and Easy to Win'", Bloomberg Businessweek, Nov. 18, 2019 pp.32-36
- ^ Fitzgerald, Maggie (October 17, 2019). "Trade war hit to global economy could be as big as the entire economy of Switzerland, new IMF director says". CNBC. Retrieved August 31, 2020.
- ^ "Mapping International Trade: Who Are the Biggest Importers?". HowMuch. Retrieved August 31, 2020.
- ^ "Mapping International Trade: Who Are the Biggest Exporters?". HowMuch. Retrieved August 31, 2020.
- ^ "USA vs. China Trade War Illustrated in 6 Visualizations". HowMuch. Retrieved August 31, 2020.
- ^ TAKAHASHI, TETSUSHI; CHO, YUSHO (February 8, 2018). "The master of China's US debt might be the next vice president". The Nikkei. Retrieved January 20, 2020.
- ^ "Normalizing Trade Relations With China Was a Mistake". The Atlantic. June 8, 2018.
- ^ "President Grants Permanent Trade Status to China". www.whitehouse.archives.gov. December 27, 2001.
- ^ Zarroli, Jim (June 8, 2018). "As U.S. Flexes Its Muscles On Trade, Other Countries Are Beginning To Push Back". NPR.org. Retrieved August 26, 2019.
- ^ Tankersley, Jim; Landler, Mark (May 15, 2019). "Trump's Love for Tariffs Began in Japan's '80s Boom". NYTimes.com.
- ^ Long, Heather (July 28, 2015). "Donald Trump wants to be the 'jobs president.' But how?". CNNMoney.
- ^ "Donald Trump's top 10 campaign promises". PolitiFact.
- ^ Zarroli, Jim (June 8, 2018). "As U.S. Flexes Its Muscles On Trade, Other Countries Are Beginning To Push Back". NPR.org. Retrieved August 26, 2019.
- ^ a b "How 'The Donald' could incite a trade war", CNN Money, April 18, 2011
- ^ Kruzel, John. "Did the U.S. have a $500 billion deficit with China in 2017?".
- ^ a b Smith, David (April 4, 2018). "Trump plays down US-China trade war concerns: 'When you're $500bn down you can't lose'". The Guardian. Retrieved May 28, 2018.
- ^ a b Lovelace Jr., Berkeley (April 4, 2018). "Commerce Secretary Wilbur Ross: China tariffs amount to only 0.3% of US GDP". CNBC. Retrieved May 28, 2018.
- ^ "Trump's trade war with China will be worth the fight", CNN Business, August 23, 2019
- ^ a b "How much has the US lost from China's IP theft?", CNN Business, March 23, 2018
- ^ a b c d "The United States is finally confronting China’s economic aggression", Washington Post, March 25, 2018
- ^ Clark, Grant (December 4, 2018). "What Is Intellectual Property, and Does China Steal It?". Bloomberg. Retrieved June 4, 2019.
- ^ "USTR Releases Annual Reports on China's and Russia's WTO Compliance". United States Trade Representative. Retrieved June 4, 2019.
- ^ McLaughlin, David; Strohm, Chris Strohm (November 1, 2018). "China State-Owned Company Charged With Micron Secrets Theft". Bloomberg News. Retrieved December 5, 2018.
- ^ Ciaccia, Chris (November 29, 2018). "China is using 'economic espionage' and 'theft' to grab US technology". Fox News. Retrieved December 5, 2018.
- ^ Segal, Adam (January 16, 2019). "China's Innovation Wall". Foreign Affairs.
- ^
- "Strategic Tariffs Against China Are Critical Part of Trade Reform to Create More Jobs and Better Pay", AFL-CIO press release, March 22, 2018
- "Trump takes aim at China's bad intellectual property practices". The Hill. August 16, 2017.
- Schneider, Howard (October 10, 2017). "Some U.S. businesses urge caution in China intellectual property trade push". Washington: Reuters. Retrieved May 26, 2019.
- Benner, Katie (October 10, 2018). "Chinese Officer Is Extradited to U.S. to Face Charges of Economic Espionage". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
- Sanger, David E.; Benner, Katie (December 20, 2018). "U.S. Accuses Chinese Nationals of Infiltrating Corporate and Government Technology". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
- "China Hacked F-22, F-35 Stealth Jet Secrets". Washington Free Beacon. March 24, 2016.
- "Chinese theft of sensitive US military technology is still a 'huge problem,' says defense analyst". CNBC. November 8, 2017.
- "U.S. Charges Alleged Chinese Government Spy With Stealing U.S. Trade Secrets". NPR. October 10, 2018.
- "PENTAGON: Chinese Hackers Have Stolen Data From 'Almost Every Major US Defense Contractor'". Business Insider. May 7, 2013.
- "Chinese Hackers Stole U.S. Weapons System Designs". The Heritage Foundation. June 12, 2013.
- "China's Mysterious Predator Clone Is Finally Out In The Open". Business Insider. November 8, 2012.
- ^ "Grassley on Chinese Espionage: It's called cheating. And it's only getting worse". United States Senate. November 28, 2018.
- ^ Grove, Andrew. "Andy Grove: How America Can Create Jobs", Bloomberg News, July 1, 2010
- ^ "Andy Grove’s Warning to Silicon Valley", New York Times, March 26, 2016.
- ^ Branstetter, Lee G. (June 2018). "China's Forced Technology Transfer Problem— And What to Do About It" (PDF). www.piie.com.
- ^ a b "Chinese Intelligence Officers Accused of Stealing Aerospace Secrets". New York Times. October 30, 2018.
- ^ [42][43][44][45][46][47][48][49][50][51][51]
- ^ Oh, Sunny. "Why is the U.S. accusing China of stealing intellectual property?". MarketWatch. Retrieved June 3, 2019.
- ^ Aleem, Zeeshan (August 21, 2017). "Trump's new attack on the Chinese economy, explained". Vox. Retrieved May 26, 2019.
- ^ Blair, Dennis; Alexander, Keith. "China's Intellectual Property Theft Must Stop", The New York Times, August 15, 2017
- ^ Pham, Sherisse (March 23, 2018). "How much has the US lost from China's intellectual property theft?". CNNMoney.
- ^ Swanson, Ana (March 2, 2018). "Trump Calls Trade Wars 'Good' and 'Easy to Win'". NYTimes.com.
- ^ Haberman, Maggie; Baker, Peter (August 15, 2019). "Citing Economy, Trump Says That 'You Have No Choice but to Vote for Me'". NYTimes.com.
- ^ Analysis by Stephen Collinson and Donna Borak. "Trump's China trade war spirals as 2020 looms". CNN.
- ^ "Trump tariffs on Chinese goods fulfill campaign promise: Peter Navarro, Fox Business, June 19, 2018
- ^ "Peter Navarro talks trade and tariffs", CNBC, March 15, 2018
- ^ "U.S. and China clash over 'technology transfer' at WTO". Reuters. May 29, 2018. Retrieved June 1, 2019.
- ^ Belvedere, Matthew J. (June 27, 2018). "Larry Summers praises China's state investment in tech, saying it doesn't need to steal from US". CNBC. Retrieved June 1, 2019.
- ^ "China to make forced technology transfer illegal to woo foreign investors". South China Morning Post. March 6, 2019. Retrieved June 1, 2019.
- ^ V., Harini (December 24, 2018). "China is reportedly considering a law to crack down on forced tech transfers". CNBC. Retrieved June 1, 2019.
- ^ Cheng, Evelyn (March 15, 2019). "China scrambled to show it'll change how it treats foreign firms — that may not be enough for Trump". CNBC. Retrieved June 1, 2019.
- ^ Cheng, Evelyn (June 2, 2019). "'The US has backtracked': China releases official document blaming America for the trade war".
- ^ Presidential Executive Order Regarding the Omnibus Report on Significant Trade Deficits, White House, 3/31/2016
- ^ Presidential Executive Order on Establishing Enhanced Collection and Enforcement of Antidumping and Countervailing Duties and Violations of Trade and Customs Laws, White House, 3/31/2016
- ^ Ailworth, Jacob M. Schlesinger and Erin. "U.S. Imposes New Tariffs, Ramping Up 'America First' Trade Policy". WSJ.
- ^ "• Share of solar equipment imports United States by source country | Statista". www.statista.com.
- ^ "U.S. slaps duties on washing machines made in China". stltoday.com.
- ^ "Trump announces steel and aluminum tariffs Thursday over objections from advisers and Republicans". Washington Post.
- ^ "Analysis | Winners and losers from Trump's tariffs". Washington Post.
- ^ Board, The Editorial. "Trump's Tariff Folly". WSJ.
- ^ a b Diamond, Jeremy. "Trump hits China with tariffs, heightening concerns of global trade war". CNN. Retrieved March 22, 2018.
- ^ "Trump's Rumored Tariff Plan Sparks Fears of Sino-U.S. Trade War - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ a b c d "China Strikes Back With Second Tranche of Tariffs - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "Statement from President Donald J. Trump on Additional Proposed Section 301 Remedies". White House. Retrieved April 7, 2018.
- ^ Office of the United States Trade Representative, April 2018, Under Section 301 Action, USTR Releases Proposed Tariff List on Chinese Products
- ^ Swanson, Ana (April 3, 2018). "White House Unveils Tariffs on 1,300 Chinese Products". The New York Times. ISSN 0362-4331. Retrieved April 4, 2018.
- ^ Biesheuvel, Thomas (April 4, 2018). "As China Fires Back in Trade War, Here Are the Winners and Losers". Bloomberg. Retrieved April 4, 2018.
- ^ Rauhala, Emily (April 4, 2018). "China fires back at Trump with the threat of tariffs on 106 U.S. products, including soybeans". The Washington Post. ISSN 0190-8286. Retrieved April 4, 2018.
- ^ Chang, Eunyoo (July 6, 2018). "Global Soybean Trade Suffers from the US-China Trade War". Tridge. Retrieved July 6, 2018.
- ^ "White House sees 'short-term pain' as Trump stokes China trade war". Politico. Retrieved May 28, 2018.
- ^ Sheetz, Michael (April 4, 2018). "Trump: 'We are not in a trade war with China, that war was lost many years ago'". CNBC. Retrieved May 28, 2018.
- ^ "Beijing to 'Fight Back at All Costs' Against New Trump Tariffs - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "WTO Says It Has Received China Complaint Over Proposed U.S. Tariffs". k.caixinglobal.com. Archived from the original on August 9, 2018. Retrieved August 9, 2018.
- ^ a b "U.S., China Strike Trade Deal, Ending Threat of Protective Tariffs - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "US, China putting trade war on hold after progress in talks". AP News. Retrieved May 21, 2018.
- ^ Elis, Niv (May 30, 2018). "Navarro contradicts Mnuchin's assertion that trade war with China is on hold". The Hill.
- ^ "Trump: China agrees to buy massive amount of ag products". May 21, 2018.
- ^ "Update: Beijing Lashes Out at U.S. for Backtracking on Tariff Cancellation - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "White House Announces Tariffs, Trade Restrictions To Be Placed On China". NPR. Retrieved May 30, 2018.
- ^ "Stark China warning to US over trade". BBC News. June 3, 2018. Retrieved June 3, 2018.
- ^ "Trump announces tariffs on $50 billion worth of Chinese goods". CNN. June 15, 2018. Retrieved June 15, 2018.
- ^ "Trump imposes import taxes on Chinese goods, and warns of 'additional tariffs'". The Washington Post. June 15, 2018. Retrieved June 15, 2018.
- ^ Wei, Han; Qi, Zhang (June 15, 2018). "Trade War Back on Stage With New U.S. Tariffs - Caixin Global". Caixin. Retrieved August 9, 2018.
- ^ "China: 'The US has launched a trade war'". CNN. June 15, 2018. Retrieved June 16, 2018.
- ^ "US releases $200bn list of Chinese products for possible new tariffs". RT International. Retrieved July 11, 2018.
- ^ "Trump threatens China with new tariffs on another $200 billion of goods". CNN. June 19, 2018. Retrieved June 19, 2018.
- ^ "China hits back after US imposes tariffs worth $34 bn". BBC. July 6, 2018. Retrieved July 6, 2018.
- ^ "Update: Sino-U.S. Trade War Begins - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "Update: U.S. Names Products Targeted by $200 Billion in New Tariffs - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ "China Vows Retaliatory Tariffs on $60 Billion in U.S. Goods - Caixin Global". www.caixinglobal.com. Retrieved August 9, 2018.
- ^ Swanson, Ian (August 7, 2018). "Trump to hit China with $16B in tariffs on Aug. 23". The Hill. Retrieved August 8, 2018.
- ^ Lawder, David. "U.S. finalizes next China tariff list targeting $16 billion in imports". Reuters. Retrieved August 8, 2018.
- ^ Martina, Michael. "U.S., China impose further tariffs, escalating trade war". Reuters. Retrieved August 23, 2018.
- ^ Stanway, David; Xu, Muyu (August 15, 2018). "China says U.S. solar tariffs violate trade rules, lodges WTO complaint". Shanghai/Beijing: Reuters. Retrieved May 26, 2019.
- ^ Donnan, Shawn; Jacobs, Jennifer; Niquette, Mark; Han, Miao (August 23, 2018). "US, China each impose $16 billion of fresh tariffs as talks resume". livemint.com. Retrieved November 20, 2018.
- ^ "China initiates WTO dispute complaint against additional US tariffs on Chinese imports". Retrieved November 20, 2018.
- ^ a b Chen, Yawen; Lawder, David (September 18, 2018). "China says Trump forces its hand, will retaliate against new U.S. tariffs". Reuters. Retrieved September 23, 2018.
- ^ "China's Tariffs on the US – List 3". Asiapedia. Dezan Shira and Associates.
- ^ "China hits back: It will impose tariffs on $60 billion worth of US goods effective Sept. 24". CNBC. September 18, 2018.
- ^ "Economic Policy and National Security". C-SPAN. November 9, 2018.
- ^ "White House adviser Peter Navarro calls Wall Street executives 'unregistered foreign agents' for weighing in on U.S.-China trade talks". Reuters. November 10, 2018.
- ^ "Trump has cleared deck for China trade war by striking new Nafta deal, say analysts". Bloomberg. October 1, 2018.
- ^ "Trump, a global loner, finds his China trade war complaints draw a crowd". Washington Post. December 14, 2018. Archived from the original on December 17, 2018.
- ^ "US and China agree to suspend new tariffs". BBC News. December 2, 2018. Retrieved December 5, 2018.
- ^ "Marriott Data Breach Is Traced to Chinese Hackers as U.S. Readies Crackdown on Beijing", New York Times, Dec. 11, 2018
- ^ "Trump says China agreed to reduce tariffs on US car imports". BBC. December 3, 2018.
- ^ "U.S. expects immediate action from China on trade commitments". Reuters. December 3, 2018.
- ^ "U.S. says March 1 'hard deadline' for trade deal with China". Reuters. December 9, 2018.
- ^ "U.S. sets new March 2 date for China tariff increases amid talks". Reuters. December 14, 2018.
- ^ a b Robb, Greg. "Fed's Williams: 'Strong' outlook for 2019 calls for continued interest-rate hikes". MarketWatch. Retrieved December 5, 2018.
- ^ "Exclusive: Trump says China 'back in the market' for U.S. soybeans". December 12, 2018 – via www.reuters.com.
- ^ a b c Liptak, Kevin; Carvajal, Nikki. "Trump complains China isn't buying US agricultural products, despite his earlier claims". CNN.
- ^ "China's Annual Trade Surplus With U.S. Hits Record Despite Trump's Tariff Offensive". Wall Street Journal. January 14, 2019. ISSN 0099-9660. Retrieved January 14, 2019.
- ^ Zarroli, Jim (March 6, 2019). "Despite Trump's Promises, The Trade Deficit Is Only Getting Wider". NPR. National Public Radio.
- ^ Kimball, Spencer (May 5, 2019). "Trump says tariffs on $200 billion of Chinese goods will increase to 25%, blames trade talks". CNBC. Retrieved May 6, 2019.
- ^ "Notice of Modification of Section 301 Action: China's Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation". Federal Register. May 9, 2019.
- ^ "U.S. says China reneged on trade commitments, talks continue". reuters. May 6, 2019.
- ^ "Securing the Information and Communications Technology and Services Supply Chain". Federal Register. May 15, 2019.
- ^ "Trump administration hits China's Huawei with one-two punch". Reuters. Reuters. May 15, 2019.
- ^ Pramuk, Jacob (May 13, 2019). "China is raising tariffs on $60 billion of US goods starting June 1". CNBC. Retrieved October 12, 2019.
- ^ "Truce in US-China trade war as 2 rivals seek breakthrough". Associated Press. June 29, 2019.
- ^ "Trump said he'd ease up on Huawei. Questions remain about what that means". CNN. July 2, 2019.
- ^ "Huawei ban may be loosened, but details unclear". SearchSecurity. July 2, 2019.
- ^ Swanson, Ana; Bradsher, Keith (July 10, 2019). "China and U.S. Differ Over Agricultural Purchases Trump Boasted About" – via NYTimes.com.
- ^ Swanson, Ana; Smialek, Jeanna (July 30, 2019). "Trump Goads China and Plays Down Chances of a Trade Deal Before 2020" – via NYTimes.com.
- ^ "Trump sees slowing Chinese growth pressuring Beijing on trade". Reuters. Reuters. July 15, 2019.
- ^ "Japan's holdings of US Treasuries near two-year peak". Australian Financial Review. July 16, 2019.
- ^ "Trump Slaps 10% Tariff on Remaining $300 Billion in Goods Coming from China". StreetInsider. August 1, 2019.[better source needed]
- ^ a b "China media says U.S. 'destroying international order', after currency-manipulator branding". Reuters. August 6, 2019.
{{cite news}}
: Cite uses deprecated parameter|authors=
(help) - ^ Business, Donna Borak, CNN. "Trump administration labels China a currency manipulator". CNN. Retrieved August 5, 2019.
{{cite web}}
:|last=
has generic name (help)CS1 maint: multiple names: authors list (link) - ^ "Trump pressured Mnuchin to label China 'currency manipulator,' a move he had previously resisted". Washington Post.
- ^ "China tells companies to stop buying US agricultural goods". Financial Times. Archived from the original on August 5, 2019. Retrieved August 6, 2019.
- ^ "U.S. farmers suffer 'body blow' as China slams door on farm purchases". August 5, 2019 – via www.reuters.com.
- ^ "China's economy worsens in July, industrial growth at 17-year low as trade war escalates". Reuters. Reuters. August 13, 2019.
- ^ "Trump's Trade War with China is about to Hit Home". Fortune.
- ^ "Analysis | Trump delays tariffs to help consumers after saying tariffs would not hurt consumers". Washington Post.
- ^ Business, Yong Xiong and Victoria Cavaliere, CNN. "China retaliates with tariffs on $75 billion of US goods". CNN. Retrieved August 23, 2019.
{{cite web}}
:|last=
has generic name (help)CS1 maint: multiple names: authors list (link) - ^ "Trump Asserts He Can Force U.S. Companies to Leave China". August 24, 2019.
- ^ Pramuk, Jacob (August 23, 2019). "Trump will raise tariff rates on Chinese goods in response to trade war retaliation". CNBC. Retrieved April 18, 2020.
{{cite web}}
: CS1 maint: url-status (link) - ^ Macias, Amanda (August 26, 2019). "Trump on trade war: China wants to negotiate and we will be 'getting back to the table'". CNBC.
- ^ Nast, Condé. "Aides Admit Trump Was Faking Those "Phone Calls" With China". Vanity Fair.
- ^ Collins, Kaitlan; Liptak, Kevin; Diamond, Jeremy; Bash, Dana. "A rattled Trump scrambles for victories ahead of election". CNN.
- ^ "Members – Americans for Free Trade". americansforfreetrade.com.
- ^ Gangitano, Alex (August 28, 2019). "Business groups urge Trump to delay tariff increases". TheHill.
- ^ Schroeder, Robert. "Trump faults companies over management as tariffs set to take effect". MarketWatch.
- ^ "China starts to impose additional tariffs on some US goods". CNBC. September 1, 2019.
- ^ Re, Gregg (September 1, 2019). "Steep new US, China tariffs go into effect, as companies warn of higher consumer prices". Fox News.
- ^ Stevenson, Alexandra (September 4, 2019). "U.S.-China Trade Talks to Resume, but New Tariffs Could Complicate Them" – via NYTimes.com.
- ^ "USTR confirms ministerial level China trade talks in 'coming weeks'". September 5, 2019 – via uk.reuters.com.
- ^ "U.S. Department of Commerce Issues Preliminary Antidumping Duty Determinations on Fabricated Structural Steel from Canada, China, and Mexico". U.S. Department of Commerce. Retrieved September 5, 2019.
- ^ Stevenson, Alexandria (September 6, 2019). "China Injects $126 Billion Into Its Slowing Economy". The New York Times.
- ^ Meredith, Sam (September 11, 2019). "China exempts 16 American products from additional tariffs — here's the full list". CNBC.
- ^ Bhattacharjee, Riya (September 11, 2019). "Trump delays tariff hikes by two weeks in 'good will' gesture to China". CNBC.
- ^ Leonard, Jenny; Donnan, Shawn (September 12, 2019). "Trump Advisers Consider Interim China Deal to Delay Tariffs". Bloomberg. Retrieved October 5, 2019.
- ^ White, Ben; Behsudi, Adam. "Trump team rushes to find escape hatch for China tariffs". POLITICO.
- ^ Washington, Lingling Wei and Chao Deng in Beijing and Josh Zumbrun in. "WSJ News Exclusive | China Seeks to Narrow Trade Talks With U.S. in Bid to Break Deadlock". WSJ.
- ^ Hufford, Austen (September 26, 2019). "'It's a Crisis'; Lumber Mills Slash Jobs as Trade War Cuts Deep" – via www.wsj.com.
- ^ "Hardwood industry pleads for relief from Trump trade war". The Hill. The Hill. November 7, 2019.
- ^ U.S. expands blacklist to include China's top AI startups ahead of trade talks Reuters, October 7, 2019
- ^ Salama, William Mauldin and Vivian. "U.S., China Reach Tentative 'Phase One' Trade Pact". WSJ.
- ^ Ana, Swanson (October 11, 2019). "Trump Reaches 'Phase 1' Deal With China and Delays Planned Tariffs". The New York Times.
- ^ Bloomberg News: "China Wants More Talks Before Signing Trade Deal With Trump," October 14, 2019 — https://www.bloomberg.com/news/articles/2019-10-14/china-wants-more-talks-before-signing-trump-s-phase-one-deal
- ^ "外交部:中美在达成经贸协议问题上是一致的". 经济参考. October 16, 2019. Retrieved October 16, 2019.
- ^ "China's GDP growth grinds to near 30-year low as tariffs hit production". Reuters. Reuters. October 17, 2019.
- ^ China confirms 'phase one' trade deal with US The Guardian, December 13, 2019
- ^ "U.S. and China agree to partial trade deal, but few details are released". Los Angeles Times. December 13, 2019.
- ^ Cheng, Evelyn (December 16, 2019). "Despite the US-China trade agreement, key details are unclear". CNBC.
- ^ "The text is expected to be released after the signing, although U.S. Trade Representative Robert Lighthizer has said some of the details on purchases will be classified" Beijing, Bob Davis and Andrew Restuccia in Washington and Lingling Wei in. "Trump Says He Will Sign Phase-One Trade Deal With China on Jan. 15". WSJ.
- ^ "U.S. factory sector in deepest slump in more than 10 years". January 3, 2020 – via www.reuters.com.
- ^ Wearden, Graeme (January 15, 2020). "US and China sign Phase One trade deal, but experts are sceptical - business live". The Guardian.
- ^ Donnan, Shawn; Wingrove, Josh; Mohsin, Saleha (January 15, 2020). "U.S. and China Sign Phase One of Trade Deal". Bloomberg.
- ^ Covington & Burling LLP, U.S.-China "Phase One" Trade Deal, published 17 January 2020, accessed 20 January 2020
- ^ Davis, Bob (January 16, 2020). "U.S.-China Deal Could Upend the Way Nations Settle Disputes". The Wall Street Journal. Retrieved January 21, 2020.
- ^ Lawder, David (January 15, 2020). "In U.S.-China Phase 1 trade deal, enforcement may end in 'We quit'". Reuters. Retrieved January 21, 2020.
- ^ "The U.S. trade war slowed China's 2019 economic growth to its weakest pace in nearly 30 years". Fortune. Fortune. January 17, 2020.
- ^ "China's economic growth hits 30-year low". BBC. BBC. January 17, 2020.
- ^ "U.S. trade deficit narrows in 2019 for first time in six years". Reuters. Reuters. February 5, 2020.
- ^ "The US-China Trade War: A Timeline". February 17, 2020. Retrieved March 13, 2020.
{{cite news}}
: CS1 maint: url-status (link) - ^ "The US lifts tariffs on Chinese face masks and other medical supplies amid coronavirus outbreak | Markets Insider". markets.businessinsider.com. Retrieved March 31, 2020.
- ^ "U.S. excludes Chinese face masks, medical gear from tariffs as coronavirus spreads". Reuters. March 7, 2020. Retrieved March 31, 2020.
- ^ a b "As US-China trade war turns two, superpower relations hit 'alarming' point". South China Morning Post. July 9, 2020. Retrieved July 19, 2020.
- ^ a b Zumbrun, Josh (June 14, 2020). "China a Bright Spot for U.S. in Gloomy Global Trade Picture". Wall Street Journal. Retrieved June 14, 2020.
- ^ "China Loosens Foreign Auto Rules, in Potential Peace Offering to Trump", New York Times, April 17, 2018
- ^ Kate O’Keeffe and Katy Stech Ferek (November 14, 2019). "Stop Calling China's Xi Jinping 'President,' U.S. Panel Says". The Wall Street Journal.
- ^ a b "Facing trade war with U.S., China's Xi renews vow to open markets, import more", Washington Post, April 10, 2018
- ^ "Trade War With China Heats Up, But Tariff Effects Are Already Rippling Across U.S.", NPR, July 9, 2018
- ^ "A look at the impact of the US-China trade war on consumers". www.cnbc.com. Retrieved January 16, 2019.
- ^ a b c d Rappeport, Alan (August 27, 2019). "Farmers' Frustration With Trump Grows as U.S. Escalates China Fight".
- ^ "Bulk of Trump's U.S. farm aid goes to biggest and wealthiest..." www.reuters.com. July 30, 2019.
- ^ Tausche, Jacob Pramuk,Kayla (July 25, 2019). "Trump administration unveils details of $16 billion aid package for farmers hurt by trade war, bad weather". CNBC.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ "Summer 2019 Wheat Update" (PDF). August 9, 2019.
- ^ Dorning, Mike. "Farm-Equipment Sales Plunge Most Since 2016 in Trade-War Fallout". www.bloomberg.com. Retrieved October 12, 2019.
{{cite web}}
: CS1 maint: url-status (link) - ^ "US-China trade war is hurting farmers, but they’re sticking with Trump", CNBC, August 8, 2019
- ^ https://www.nytimes.com/2020/02/14/us/politics/trump-farm-bailout-investigation.html
- ^ "NRF Warns USTR Tariffs Would Cost Americans Billions,Releases New Study on Consumer Impact".
- ^ "US-China Trade War: The Guns of August". PIIE. August 26, 2019.
- ^ Wiseman, Paul; D'innocenzio, Anne (August 31, 2019). "Latest Trump tariffs could hit consumers with higher prices". AP NEWS.
- ^ a b Partington, Richard (August 2, 2019). "Global markets take fright as Trump ramps up US-China trade war".
- ^ "World Economic Outlook, April 2019 Growth Slowdown, Precarious Recovery".
- ^ Khan, Yusuf (August 29, 2019). "China is blunting the blows of Trump's trade war and just grabbed an even bigger share of global exports".
- ^ Fitzgerald, Maggie (May 13, 2019). "This chart from Goldman Sachs shows tariffs are raising prices for consumers and it could get worse". CNBC.
- ^ "Tariffs on China don't hurt Americans? Pants on Fire". @politifact.
- ^ Pound, Jesse (August 30, 2019). "US consumer sentiment falls to 89.8 in August for biggest monthly drop since 2012". CNBC.
- ^ Simon, Ruth. "Tariff Uncertainty Weighs on Small Businesses". WSJ.
- ^ Li, Yun (August 22, 2019). "Manufacturing sector contracts for the first time in nearly a decade". CNBC.
- ^ Swanson, Ana (September 3, 2019). "Trump Says China Will Suffer as Data Shows Trade War Hurting U.S." – via NYTimes.com.
- ^ Schwartz, Nelson D. (September 3, 2019). "U.S. Manufacturing Slowed in August in Latest Sign of Economic Weakness" – via NYTimes.com.
- ^ "Trump's trade war has killed 300,000 jobs". finance.yahoo.com.
- ^ Hufford, Austen (September 8, 2019). "Manufacturers Cut Spending as Trade War Dents Confidence" – via www.wsj.com.
- ^ Murray, Brendan (November 6, 2019). "UN Sees U.S.-China Trade War Hurting Both Nations' Economies".
- ^ Lockett, Hudson (November 13, 2019). "US manufacturers hit harder than China's in trade war". Financial Times. Retrieved August 11, 2020.
- ^ "After a tough 2019, China's factories face more headwinds next year". South China Morning Post. December 24, 2019.
- ^ https://www.wsj.com/articles/trump-administration-denying-more-tariff-exemption-requests-11580736641
- ^ "An Update to the Budget and Economic Outlook: 2019 to 2029". CBO.gov. August 21, 2019.
- ^ "The Budget and Economic Outlook: 2020 to 2030". January 28, 2020 – via CBO.gov.
- ^ "Stocks move lower as trade war anxiety lingers". August 12, 2019.
- ^ He, Laura (August 30, 2019). "Asian markets rally after China's trade comments soothe nerves".
- ^ "Dow up more than 1,000 points in biggest one-day gain ever". December 27, 2018.
- ^ Matthews, Sue Chang, Chris. "Dow closes down 800 points as U.S.-China trade, flattening yield curve spook investors". MarketWatch. Retrieved December 5, 2018.
{{cite web}}
: CS1 maint: multiple names: authors list (link) - ^ "Dow notches record point surge in dramatic rebound". Reuters. Reuters. December 26, 2018.
- ^ Business, David Goldman, CNN. "Dow tumbles 800 points after bond market flashes a recession warning". CNN. Retrieved August 18, 2019.
{{cite web}}
:|last=
has generic name (help)CS1 maint: multiple names: authors list (link) - ^ "Markets Right Now: Markets Shudder as Trade Tensions Flare". August 23, 2019. Retrieved August 11, 2020.
- ^ "Trump says U.S. companies 'hereby ordered' to start leaving China, both nations boost tariffs; Dow down more than 600 points; president calls Fed chair 'enemy'". chicagotribune.com. Retrieved August 11, 2020.
- ^ "Global stocks end 2019 near record highs, dollar slides". Reuters. Reuters. December 30, 2019.
- ^ "The stock market boomed in 2019. Here's how it happened". CNBC. CNBC. December 31, 2019.
- ^ "Businesses, farmers brace for new phase in Trump trade war". August 8, 2019.
- ^ a b "Trump's China trade war spirals as 2020 looms". August 24, 2019.
- ^ Manabe, Kazuya (August 25, 2019). "Trade war hammers foreign investment in China and Southeast Asia".
- ^ McHugh, David (August 12, 2019). "US-China trade war leaves Europe as collateral damage".
- ^ Powell, Naomi (August 7, 2019). "As U.S. and China lock horns in worsening trade battle, Canadian business investment feels the fallout".
- ^ a b c "China-US trade talks to resume in early October amid dim growth outlook". South China Morning Post. September 5, 2019.
- ^ "Asia Makes Fiscal Push After Rate Cuts to Limit Trade War Damage". August 28, 2019.
- ^ "Global semiconductor market to shrink 12% in 2019: trade group". Nikkei Asian Review.
- ^ a b c Radu, Sintia (August 23, 2019). "These Economies Are Benefiting From the U.S.-China Trade War".
- ^ Salzman, Avi (August 28, 2019). "The U.S.-China Trade War Has a Silver Lining in Asia. Look at Vietnam".
- ^ Finley, Klint (August 26, 2019). "Trump's Trade War Isn't Just a US–China Problem".
- ^ a b "Subscribe to read | Financial Times". www.ft.com.
{{cite web}}
: Cite uses generic title (help) - ^ Mochizuki, Takashi. "Nintendo Moves Some Switch Production Out of China, Adapting to Tariff Threat". WSJ.
- ^ News, Taiwan. "Taiwan's Chunghwa Picture Tubes to lay of..." Taiwan News.
{{cite web}}
:|last=
has generic name (help) - ^ "China Would Fight Trade War 'to the End,' State Media Says". June 22, 2019.
- ^ "Don't mention the trade war: what China doesn't want people to know in its dispute with the US". South China Morning Post. July 14, 2018.
- ^ Oh, Sunny. "How China's censorship on trade war throws off the algos". MarketWatch. Retrieved August 13, 2020.
- ^ "Don't mention the (trade) war: China censors crack down on WeChat". South China Morning Post. February 13, 2019. Retrieved August 13, 2020.
- ^ Bradsher, Keith; Swanson, Ana (May 6, 2019). "Trump's Trade War Threat Poses Problems for China and Investors". The New York Times.
- ^ Richardson, Davis (May 6, 2019). "Chinese Social Media Depicts Trump as 'Thanos' for Blowing Up Trade Talks". Observer.
- ^ Lawrence J. Lau, "The China–US Trade War and Future Economic Relations." China and the World (Lau Chor Tak Institute of Global Economics and Finance, 2019): 1-32. quote p. 3 online.
- ^ a b "Trump's China tariffs get bipartisan support, reflecting widespread U.S. disillusionment with Beijing". Los Angeles Times. March 22, 2018.
- ^ "Schumer, Wyden, Brown Lead 33 Senators In Calling On Trump Administration To Put American Jobs, National Security Before China ~ Senators: Trading American Security for Jobs in China is a Bad Deal". United States Senate. May 15, 2018.
- ^ "Menendez, Democratic Senators Call On Trump Administration To Put American Jobs, National Security Before China". United States Senate. May 15, 2018.
- ^ "Senate Democratic leader Chuck Schumer warns Trump: 'Don't let President Xi play you' on trade talks". CNBC. May 18, 2018.
- ^ "Ahead Of G-20 Summit, Schumer, Wyden, And Brown Urge President Trump To Not Back Down On Further Action Against China For Sake Of Weak And Meaningless Agreement". United States Senate. November 28, 2018.
- ^ "Democrat-led House seen backing Trump's China trade war, scrutinizing talks with allies". Reuters. November 8, 2018.
- ^ "Pelosi Statement on Trump Administration's New Tariffs on China". United States House of Representatives. March 22, 2018.
- ^ "Pelosi Statement on Trump Trade Brinkmanship". United States House of Representatives. May 29, 2018.
- ^ a b "House Democrat: 'China declared trade war,' not Trump". Washington Examiner. July 11, 2018.
- ^ a b c "Trump's tariffs make him labor unions' man of steel". Vice. Vice. March 2, 2018.
- ^ Mascaro, Lisa (May 15, 2019). "GOP scrambles to ease blow from Trump's trade war".
- ^ Cole, Devan (May 26, 2019). "Iowa GOP senator says US-China trade war 'hurtful' to farmers".
- ^ "Trump Says He Will Raise Existing Tariffs on Chinese Goods to 30%". August 23, 2019.
- ^ a b Patterson, Erin (August 23, 2019). "Virginia senators condemn escalated trade war with China".
- ^ "Trade Turmoil Gives Democrats an Opening to Hit Trump on Economy". August 24, 2019.
- ^ a b c d e "Reaction to the Trade Battle Between China and the US". AP. July 7, 2018. Retrieved December 13, 2019.
- ^ Anapol, Avery (July 8, 2018). "US soybean farmers warn Trump trade war with China will cause 'serious damage'". TheHill. Retrieved August 31, 2020.
- ^ Papenfuss, Mary (August 23, 2019). "National Farmers Union Says Trump Is 'Burning Bridges' With His Trade Wars". HuffPost.
- ^ "China and the US ratchet up trade war in a day of retaliation". August 23, 2019.
- ^ a b Dhue, Stephanie (September 12, 2018). "Wide range of businesses step up campaign against Trump's tariffs". CNBC. Retrieved September 14, 2018.
- ^ McCrimmon, Ryan (February 6, 2019). "Farmers nearing crisis push back on Trump trade policies". Politico. Retrieved February 6, 2019.
- ^ a b "U.S. business lobby says most firms favor tariffs while China trade talks underway". Reuters. Reuters. February 26, 2019.
- ^ a b "Trump push for China trade reform draws wide support at home, abroad". Reuters. Reuters. March 25, 2019.
- ^ "First on CNN Business: 600 companies including Walmart, Costco and Target warn Trump on tariffs". June 14, 2019.
- ^ "Nike, Adidas Call Tariffs 'Catastrophic' in Letter to Trump". bloomberg.com. June 7, 2019.
- ^ "Footwear Tariff Letter" (PDF). FDRA. Retrieved October 12, 2019.
{{cite web}}
: CS1 maint: url-status (link) - ^ Gangitano, Alex (August 28, 2019). "Business groups urge Trump to delay tariff increases". TheHill. Retrieved December 6, 2019.
- ^ "U.S. retailers blast new China tariffs, say move will raise prices further, hurt jobs". Reuters. August 1, 2019. Retrieved August 31, 2020.
- ^ Bhattarai, Abha. "Five ways the trade war will hurt American shoppers". Washington Post. Retrieved August 31, 2020.
- ^ "Nucor CEO on Trump tariffs: 'We're treating other countries how they treat us'", CNBC, March 5, 2018
- ^ "'Don't blink' on Trump tariffs, steel CEOs tell U.S. lawmakers". Reuters. Reuters. March 27, 2019.
- ^ "U.S. Weighs Tariff Relief but Some Fear China Will Take Advantage". NYT. NYT. March 15, 2020.
But in a letter sent to Congress on Friday afternoon, Thomas M. Conway, the international president of the United Steelworkers Union, cautioned against removing tariffs on steel, saying that it would harm an industry that is already struggling as a result of auto plant closures and a general slowdown in manufacturing...Mr. Conway, whose group pressed for the tariffs initially, also argued that rolling back tariffs could advance China's interests. He cited research from Horizon Advisory, a firm that analyzes Chinese-language publications, speeches and other documents, which suggested that some Chinese strategists believe that emerging from the coronavirus first would give China an economic opportunity.
- ^ "U.S. Tariff Deal with Mexico, Canada Is Also About Cutting Off China's Steel". Fortune. Fortune. May 17, 2019.
- ^ "United Steelworkers leader: Punish China, not Canada". Pittsburgh Post-Gazette. Pittsburgh Post-Gazette. June 13, 2018.
- ^ "The Steelworkers Argument For Tariffs". NPR. NPR. July 7, 2018.
- ^ a b c "PolitiFact's guide to understanding tariffs and international trade". PolitiFact. Retrieved August 31, 2020.
- ^ "White House not considering three-month tariff deferral: Navarro". Reuters. Reuters. MARCH 24, 2020.
{{cite news}}
: Check date values in:|date=
(help) - ^ Stevenson, Alexandra (July 31, 2019). "U.S.-China Trade Talks End With No Deal in Sight". New York Times. New York Times.
- ^ "Why the Teamsters president supports Trump's new tariffs". PBS. PBS. May 14, 2019.
- ^ "Christian Science Monitor Breakfast with Richard Trumka". CSPAN. CSPAN. August 1, 2018.
WE ARE PRETTY SUPPORTIVE WHEN IT COMES TO CHINA BECAUSE I WOULD SAY THEY HAVE BEEN THE CHIEF COOK WHEN IT COMES TO TRADE VIOLATIONS. WE HAVE LOOKED AT THOSE AND SAID SOMETHING NEEDS TO BE DONE. CURRENTLY MANIPULATION STILL NEEDS TO BE ADDRESSED. THEN, THERE ARE A COUPLE OF 232'S YOU COULD PROBABLY DEAL WITH. RARE EARTH MAGNETS ARE USED IN THE GUIDANCE SYSTEM OF SHIPS, MISSILES AND PLANES ETC.. WE HAD ONE IN INDIANA AND ONE IN ILLINOIS. PRESIDENT BUSH GAVE THEM THE IDEA TO BUY PLANS. THEY HAVE A LITTLE OVER 90% OF THE WORLD SUPPLY OF RARE EARTH MAGNET BY THE CHINESE RIGHT NOW. DO YOU THINK THAT COULD POSSIBLY REPRESENT A THREAT TO OUR NATIONAL SECURITY? THAT MIGHT BE A PLACE FOR WHERE 232 ACTION IS JUSTIFIABLE AND ACTUALLY WARRANTED. WHAT WE SAY IS WE LOOK AT THE INDIVIDUAL CASE AND YOU DON'T DO IT WITH A SHOTGUN, YOU DO IT WITH THE RIFLE. IF CHINA IS BY LIVING, WE OUGHT TO PUSH BACK. YOU TALKED ABOUT RULES OF ORIGIN . LET'S TAKE NAFTA. THEY SAID WE HAVE TO HAVE A 62.5% PRODUCT MADE IN A COMBINATION OF THE THREE COUNTRIES, BUT IF CHINA MADE 30% OF EVERY COMPONENT THAT THE MEXICANS OR THE U.S. OR CANADA PUTS INTO A CAR, THAT 30% GETS WASHED AND IT IS COUNTED AS WANTED TO PERCENT FOR MEXICO, SO THE REAL ONES WERE WASHED AWAY. WE NEED TO LOOK AT THAT. IF AN INDUSTRY IMPORTANT TO OUR ECONOMY AND NATIONAL SECURITY, EVERY OTHER COUNTRY IN THE WORLD MAKES SURE THE INDUSTRY THRIVES. WE SHOULD DO THE SAME.
- ^ "Labor chief Trumka walks tightrope on Trump and trade". CSM. CSM.
And what about the farmers negatively affected by China's retaliatory tariffs, in what many observers call a trade war? Trumka urges a big-picture perspective. "When you go through this, you're going to come up with what's good for the country," Trumka says. "And sometimes what's good for the country may be bad for Joe or Jane in the short term, but in the long term, if it's good for the country, it's going to be good for everybody." "And if we get trade agreements that are fairly enforced, that farmer is going to get a fair shake," he continues. "They're going to be able to compete, because the rules are the same for everybody. And when the rules are the same, I believe the farmers in this country are going to do well and they're going to be able to compete worldwide."
- ^ Kimball, Spencer (June 29, 2019). "US business groups praise Trump's trade war truce, but want an 'enforceable agreement' with China". CNBC. Retrieved August 12, 2020.
- ^ Woellert, Lorraine; Levine, Marianne (September 11, 2018). "Fighting against Trump's trade war from within". POLITICO. Retrieved August 12, 2020.
But while organizations like the National Retail Federation have publicly scolded Trump for a "reckless escalation," Timmons has taken a more diplomatic tack. "It's not the way I would negotiate it, but the last time I looked I wasn't elected president," Timmons said. "If this is a better way to encourage investment here in the United States, and create jobs and wage growth, we'll have to see."
- ^ a b "Donald Trump has floated big tariffs. What could the impact be?". PolitiFact. Retrieved August 31, 2020.
- ^ a b "Why Trump's Misguided China Tariffs Won't Help the U.S.", Wired, March 31, 2018
- ^ "There Is More to the Trade War than Trade". CSIS. CSIS. Retrieved April 6, 2018.
- ^ Broadman, Harry (April 9, 2018). "The Coalition-Based Trade Strategy Trump Should Pursue Toward China". Retrieved December 2, 2018.
- ^ "TaxVox: For Many Households, Trump's Tariffs Could Wipe Out The Benefits of the TCJA". Tax Policy Center. Retrieved August 31, 2020.
- ^ "Trump Tariffs Could Wipe Out Tax Cuts for Many Households". uk.finance.yahoo.com. Retrieved August 31, 2020.
- ^ Higgins, Tucker (June 2, 2019). "Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war".
- ^ "A Big Mistake China's Political Elite Makes In Fighting The Trade War", Forbes, Sept. 7, 2019
- ^ Lovely, Mary E. "Opinion: A trade war ceasefire is just what America's economy needs". CNN. Retrieved August 31, 2020.
- ^ "U.S.-China Trade Deal Implications". NPR.org. Retrieved August 31, 2020.
- ^ "The Democratic candidates on foreign policy". Foreign Policy.
- ^ Greenwood, Max (September 3, 2019). "Poll: Voters want US to confront China over trade". TheHill.
- ^ Ferek, Katy Stech; Zumbrun, Josh (April 12, 2020). "U.S. Tariffs Hamper Imports of Sanitizer, Disinfectants, Some Companies Say". The Wall Street Journal. Retrieved June 24, 2020.
{{cite web}}
: CS1 maint: url-status (link) - ^ "EU launches WTO case against China's unfair technology transfers". European Commission. June 1, 2018.
- ^ "Europe and U.S. Agree on Chinese Threat, but Are Too Busy Feuding to Fight It". New York Times. December 7, 2018. Archived from the original on December 8, 2018.
- ^ "How the U.S., the EU, and Japan Are Trying to Rein in China's State Capitalism". Harvard Business Review. November 9, 2018.
- ^ "US, EU, Japan jointly denounce unfair trade". Business Times. September 26, 2018.
- ^ "The China Backlash". Project Syndicate. Project Syndicate. September 27, 2018.
- ^ "G20 leaders back WTO reform at summit". Australian Associated Press. December 2, 2018.
- ^ a b McGraw, Meridith (August 25, 2019). "Trump suggests 'second thoughts' about China tariff war, triggers confusion at G-7 summit".
- ^ "'Senseless disputes': E.U.'s Tusk says Trump's trade wars are damaging global economy". August 24, 2019.
- ^ "The US-China trade deal is 'very important' for Chile, says the vice minister for trade". CNBC. November 29, 2019.
- ^ "Galwan clash 'huge mistake' by China, world already fighting Covid-19: Experts". PTI. Hindustan Times. June 27, 2020.
- ^ "India working to restrict Chinese goods, investments since before Galwan, Covid: Officials". The Print. The Print. June 19, 2020.
"We cannot follow the Americans. Even they had to do a deal with the Chinese," Dhar said, referring to the US Commerce Department allowing American firms to work with Chinese telecom major Huawei earlier this week, an issue that was one of main reasons for the trade war between US and China.
- ^ Nalapat, M D (June 20, 2020). "India may re-evaluate neutrality in the US-China war". ITV Network. Sunday Guardian Live.
- ^ "How India responds to China's 'expansionistic tendencies' will have ramifications for the world". Indian Express. Indian Express. July 10, 2020.
The US and western powers have been very vocal in calling out Beijing in recent times. US-China relations have hit rock bottom, especially since Donald Trump took office. The US-China trade war is now taking a toll on the world system. For example, it is creating fissures among ASEAN members...I am not advocating for joining a US-lead platform as a devoted member. To push back against Chinese adventurism by deepening dependence on another power also runs counter to the very logic of protecting our national sovereignty. India today is strong enough to stand for her interest and yet must be adroit enough to find common ground with those with whom her interests align, whether to its West or East. China must be made to choose: Is it willing to push the equally proud, equally numerous, equally historical and glorious civilisation to the south in this long-term direction for a few square kilometres of territory and a round of chest-thumping?
- ^ Bhattacharjee, Govind (July 6, 2020). "The China Trade". The Statesman. The Statesman.
This has given India one lifetime opportunity to attract investments and companies away from China unto itself. Hence the Prime Minister's emphasis on 'Buy Local, Be Global' and Atmanirbhar Bharat, and to ultimately substitute China as the world's supplier. Unfortunately, it is not only cheap labour and improvement in the ease of doing business that will enable India to claim a substantial share of China's global business. We also need to understand that we are not the only player vying for the pie...Of the 56 companies that relocated their production bases from China in the aftermath of the US-China trade war of 2018- 19, only three came to India and the rest went to Vietnam, Taiwan and Thailand. In contrast, it is only now that the Government is focusing on the long-overdue factor market reforms including the labour laws which have already run into a judicial stonewall.
- ^ JOSHI, MANOJ. "Can India still avoid becoming collateral damage in US-China row?". ORF. Retrieved June 17, 2020.
- ^ CHARI, SESHADRI (July 10, 2020). "As armies 'retreat' at LAC, India must turn to options it hasn't used against China so far". The Print. The Print.
Further reading
- Albuquerque, José Luiz, Antonio MArcelo Jackson Ferreira da Silva, and José Medeiros da Silva. "The China–US Trade War." Revista do Fórum Internacional de Ideias 9.1 (2019): 11+ online, a Brazilian perspective
- Boucher, Jean-Christophe, and Cameron G. Thies. "'I Am a Tariff Man': The Power of Populist Foreign Policy Rhetoric under President Trump." Journal of Politics 81.2 (2019): 712–722.
- Chong, Terence Tai Leung, and Xiaoyang Li. "Understanding the China–US trade war: causes, economic impact, and the worst-case scenario." Economic and Political Studies 7.2 (2019): 185–202. online, a historical perspective
- Crowley, Meredith A. (ed.), Trade War: The Clash of Economic Systems Endangering Global Prosperity (CEPR Press, 2019).
- Fenby, Jonathan, and Trey McArver. The Eagle and the Dragon: Donald Trump, Xi Jinping and the Fate of US/China Relations (2019)
- Foot, Rosemary, and Amy King. "Assessing the deterioration in China–US relations: US governmental perspectives on the economic-security nexus." China International Strategy Review (2019): 1-12. online
- Lau, Lawrence J. The China–U.S. Trade War and Future Economic Relations (Hong Kong: The Chinese University of Hong Kong Press, 2019) online, a Hong Kong perspective
- Qiu, Larry D., Chaoqun Zhan, and Xing Wei. "An analysis of the China–US trade war through the lens of the trade literature." Economic and Political Studies 7.2 (2019): 148–168.
- Qiu, Larry D., and Xing Wei. "China–US trade: implications on conflicts." China Economic Journal (2019): 1-20.
External links
![](http://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/34px-Wikiquote-logo.svg.png)
Works related to The Facts and China’s Position on China–US Trade Friction at Wikisource
Works related to China’s Position on the China-US Economic and Trade Consultations at Wikisource
- 2018 in American politics
- 2018 in China
- 2018 in economics
- 2018 in international relations
- Anti-American sentiment in China
- Anti-Chinese sentiment in the United States
- China–United States relations
- China–United States economic relations
- Economic history of the People's Republic of China
- Economic history of the United States
- Geopolitical rivalry
- Ongoing events
- Presidency of Donald Trump
- Trade wars