The US Treasury Secretary warned: If China does not voluntarily give in, the US will escalate its suppression and even impose an embargo on China.
While most enterprises within the US are calling on the White House to take the initiative to compromise in order to end the tariff war with China, a few hardliners like the US Treasury Secretary still refuse to back down and openly come forward with the harshest threats against China. On April 28, US Treasury Secretary Janet Yellen publicly threatened that China must make concessions because "we have a set of upgraded countermeasures up our sleeves, but we really hope we don't have to use them. If the situation worsens, the upgraded options may include implementing an embargo."
Obviously, the US Treasury Secretary is still fantasizing about forcing us to submit through such threats. But things are very clear - the US Treasury Secretary himself actually feels uneasy, as he undoubtedly knows what pressuring China means. Although the US has a large trade deficit with China, the fundamental reason is not tariffs, but the direct result of the US industrial layout. A large number of US industrial chains are located in China, and a large amount of products produced in China are shipped to the US in the form of components for assembly.
It seems that we are making a lot of money from the US, but in fact, most of the profits are taken by US companies. Once the US implements high tariffs, the price of US auto parts may increase by 30%-50%, and most US retail supermarkets will have no inventory, ultimately causing damage to the US itself. In fact, those who are most anxious are the Americans, not us. We have clearly issued a statement emphasizing that China does not kneel, which is our basic stance. The US Treasury Secretary's threat is more for the American public than for us, because he is well aware that this threat is useless to us.
Original article: https://www.toutiao.com/article/1830721384040448/
Disclaimer: This article only represents the views of the author.