For years, countries around the world have been frustrated with China's unfair trade practices, including the United States. When President Trump took office, he had a goal to push back against China to get them to correct their practices, and him and his advisers have stated that is exactly what they want, nothing more.
One concern that arises from the imposition of tariffs is that China will impose even stricter tariffs, resulting in a trade war that could harm farmers all across the US, but specifically those who harvest soybeans, as the US is the second-highest exporter of soybeans in the world. Trump's advisers have re-stated to the American people that we are not the problem, yet it is China who does not want to correct their unfair practices.
While there is concern for a trade war, it is highly unlikely. President Trump kept his word on addressing this issue, and I believe he will be successful in helping to correct China's unfair practices.
https://www.washingtonpost.com/politics/trump-allies-play-down-concerns-about-effect-of-trade-war-with-china-on-economy/2018/04/08/47796dd0-3b31-11e8-974f-aacd97698cef_story.html?utm_term=.3f909517d43f
3 comments:
I totally agree, because for a good while China has not played by the rules by not opening its markets or blatantly refusing to enforce intellectual property rules. This was more acceptable when China was not as big of an economy as it is now but totally unfair now that it's the one of the biggest economic power in the world
It's interesting to hear President Trump's goal of fixing their practices. Does he mean fix to better favor US economy, China's or both?
Isn't China only threatening tariffs on soybeans in response to Trumps previous tariffs on $50 billion of imported Chinese goods? While retaliation is never the answer I wouldn't put all of the blame on them. Both parties should probably grow up and negotiate like adults rather than going back and forth with this trade game, both know it won't end up in an all out trade war so at this point time, money, and resources are being wasted.
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