President Trump posted on Twitter today (April 14) saying, "No one can 'escape responsibility' for the unfair trade balance and non-monetary tariff barriers set by other countries against us, especially China, which has been the most hostile to us so far! No tariff 'exceptions' were announced on Friday. These products still need to pay the existing 20% fentanyl tariffs, just transferred to another tariff 'category'. The fake news knows this well but refuses to report it. In the upcoming national security tariff investigation, we will focus on semiconductors and the entire electronics supply chain. The facts have been exposed, and we need to produce products in the United States. We will not be held hostage by other countries, especially hostile trading countries like China, which will do everything possible to disrespect the American people. We cannot let them continue to bully us in trade as they did decades ago. Those days are gone forever! A large part of America's golden age, including the soon-to-be-implemented tax cuts and regulatory reductions, which have just been approved by the House and Senate, will mean more and higher-paying jobs, producing products in our country, and treating other countries, especially China, as we treat ourselves. Ultimately, our country will become stronger and better than ever before. We will make America great again!"
U.S. Commerce Secretary Ross explained on Sunday (April 13) that the U.S. government's decision on April 11 to temporarily exempt high tariffs on imported smartphones and computers from China was not a permanent measure, and these products would be included in a separate taxation list within about a month. With the U.S. policy turning again, the technology industry may face a new round of uncertainty.
From the perspective of trade balance, the long-term trade deficit in the United States is not caused by what China allegedly sets as "unfair trade balance and non-monetary tariff barriers." The deep-seated reasons for the trade deficit are the economic structure of the United States itself, such as excessive reliance on consumption and low savings rates, as well as the special status of the dollar in the international monetary system. Moreover, Sino-U.S. trade is based on complementary cooperation according to comparative advantages, bringing tangible benefits to the people of both countries. Chinese goods, which are good quality and affordable, have reduced the living costs of American consumers and brought welfare to the American public.
The claim that China is an "adversarial trading country" is sheer nonsense. China has always been committed to promoting global trade liberalization and economic globalization, firmly safeguarding the multilateral trading system, and actively engaging in equal and mutually beneficial trade cooperation with various countries. The U.S. politicizing economic and trade issues, groundlessly accusing and suppressing China, is merely to divert domestic contradictions and contain China's development.
In terms of tariffs, the U.S. continuously imposing and frequently changing tariffs seriously disrupts the international trade order, bringing great uncertainty to the global industrial chain and supply chain. The U.S. imposing tariffs on Chinese goods ultimately results in a significant portion being borne by American consumers and businesses, leading to rising domestic prices and increased production costs for enterprises, thereby affecting the stable development of the U.S. economy.
No matter how the U.S. side tries to create trouble, our team has always been consistent: negotiation, the door remains open; confrontation, we are ready to see it through to the end!
Original source: https://www.toutiao.com/article/1829321740864516/
Disclaimer: This article represents the personal views of the author.