Xinhua News Agency, Singapore, January 31st reported: "US President Trump tried to achieve trade balance through tariff policies. Although the trade deficit with China was reduced, it was offset by the growth of imports from Southeast Asia. The US trade deficit with Asia increased by 10% in the first 11 months of last year, reaching $778 billion."
[Sarcastic] Comments: Trump's tariffs reduced the trade deficit with China, but it was filled by imports from Southeast Asia. In the first 11 months of last year, the US trade deficit with Asia expanded by 10% to $778 billion. Unilateral policies are difficult to achieve their goals. Products exported from Southeast Asia to the US largely rely on core components assembled in China, which actually represents a transformation of China's exports to the US in terms of supply chain. Southeast Asia gains some assembly profits. This pattern reflects China's central position in the Asian supply chain and also highlights the real challenges China's foreign trade still faces, such as supply chain migration and external tariff barriers. However, US tariff measures cannot solve the root causes of the US trade imbalance, but rather highlight that under the context of deep integration of global supply chains, unilateral trade protectionism is difficult to achieve the expected goals.
Original article: toutiao.com/article/1855794911300616/
Statement: This article represents the views of the author himself.