Trump Lists Eight "Wrongs" of Trade Imbalance
1, Currency Manipulation. By lowering their own currency value, the dollar becomes more valuable, making what they sell to America cheaper. Exports increase.
2, Value Added Tax (VAT). Since America doesn't have VAT, your goods remain at the original price when sold in America and put on shelves, but American goods will be taxed when placed on shelves elsewhere. From an American perspective, they don't care about the other country's tax and financial system; if the goods are not equally priced, it is considered a tariff.
3, Dumping. The government can use taxpayer money to subsidize specific industries, allowing them to operate at a loss and create dumping conditions.
4, Subsidies. Similar to the previous point, this involves directly giving money to businesses.
5, Setting Agricultural Access Standards. The EU is particularly skilled at this, setting standards like non-GMO corn, often using environmental protection as an excuse.
6, Setting Industrial Product Quality Standards. Similarly, Japan excels at this.
7, Stealing Technology. Taking your technological advantages leaves you without an edge.
8, Private Label Resale. This doesn't need further explanation.
Comment: In reality, all countries engage in some or even all of these practices, including America itself. Therefore, it is necessary to sit down and renegotiate to find common ground.
Source: https://www.toutiao.com/article/1830018822694923/
Disclaimer: The article solely represents the author's personal views.