trade war china

US White House Trade and Economic Affairs Adviser Navarro said in an interview on August 4 that China must stop seven kinds of misconduct and the US-China trade war will end.

The US Capitol Hill reported that Peter Navarro said that China “must stop stealing our intellectual property rights, stop forcing technology transfer, stop invading our computers, stop dumping our markets and let US companies go bankrupt.” , stop vigorously subsidizing state-owned enterprises, stop selling fentanyl, and stop manipulating the currency.”

In response to the impact of US tariffs on Chinese consumers, Navarro pointed out that the practice of tariffs on China has not directly affected Americans because China has dealt with tariffs by lowering product prices and depreciating the yuan. However, he admits that the practice of tariffs on China is ultimately a big problem for US consumers.

On August 1, US President Donald Trump issued four tweets to announce a 10% tariff on Chinese goods worth $300 billion from September 1.

Trump said in Twitter that China has repeatedly turned around. A few months ago, before the signing of the trade agreement, the Chinese side suddenly decided to reconsideration; the Chinese side promised to purchase a large amount of American agricultural products, but still did not honor the promise.

According to a quoted source from the Wall Street Journal, Trump’s decision to increase tariffs on China was met by US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, and White House Economic Advisor Kudlow. Lawrence Kudlow) unanimously opposed with national security adviser John Bolton.

But Trump still insisted on his own opinion and was supported by White House consultant Peter Navarro.

Bloomberg commented on August 1 that Trump’s latest threat marks the largest escalation of trade warfare that Trump has taken since the Osaka Special Seminar reached a trade war truce at the end of June, bringing the truce agreement An unexpected end.

The Chinese side reacted strongly to Trump’s sudden change of face after the China-US Shanghai negotiations.

On August 2, Beijing time, Chinese Foreign Ministry spokesperson Hua Chunying responded at a regular press conference that the US said it would impose a 10% tariff on US$300 billion on US exports to the US on September 1. China violated the consensus of the meeting between the heads of state of China and the United States and deviated from the correct track. It is not conducive to solving the problem. China is strongly dissatisfied and resolutely opposed.

Hua Chunying emphasized that if the US imposes tariff measures and implements them, China will have to take necessary counter-measures to resolutely defend the core interests of the country and the fundamental interests of the people. All the consequences arising therefrom will be borne by the US.

Sign Up for Our Newsletters

Get notified of important news and special executive deals.

You May Also Like

[Australian election] Prime Minister Morrison: I hope to re-enter the work as soon as possible

The elections held on Saturday (18th) in Australia are close to the…

Trump is dissatisfied that China is still “developing” but the WTO cannot be forced to reform.

“The WTO has rotted, and the richest countries in the world can…

Extending Huawei’s exemption and postponing additional tariffs Trump’s show to China is only a cover-up

US Commerce Secretary Wilbur Ross announced on August 19 that the department…

There is a conceptual consensus between the United States and China that cannot reach an agreement. The United States will continue to levy taxes.

China and the United States will hold a new round of trade…