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Donald Trump's Escalation of US Trade War Over the World

Info: 1475 words (6 pages) Essay
Published: 23rd Mar 2021 in Economics

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Abstract

The trading war is the most economic resulting in extreme protectionism in which states raise or create tariffs or other trade barriers against each other. The U.S demands how it's unfair the growing trade deficit is break-in on all intellectual property which is transfer from American technology into China. The duty's Trump has but on China are causing consequences on consumer goods in the U.S, most of them won't be paying more of many everyday purchases. Trump has shown that only 25 % of its duties are from $ 250 billion on Chinese products that are only made machinery and industrial materials. Wendy Cutler is a trading expert from the Asia Society Policy that referred to the comment Trump tweeted on how he labeled the Chinese President Xi Jinping as he's enemy because he made the raise on the tariff to $300 billion on products from China. Donald Trump ordered the U.S business to leave China because of the reduced-on turmoil in the stock market. Many U.S famers and businesses are getting distorted because of the new approach to how China wants to do negotiations. The trading office is demanding to cut a large area of trading on the surplus with Americans to open up markets that are state-run to use industrial policies.

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   The United States is having more economic losses more than China relating to its trading war. The trade war is affecting the economic more as China demands officials of US to the defend Beijing's position by putting pressure on China on trade deal if they don't agree it will cause more imposed to low the levels of tariff on Asian giant said the White House adviser. A couple of months later Trump has tweeted based on the negative news on China's economy how he can escalate the trading tariffs. He also commented on how the manufacture from China are trying to avoid the United States tariff deflation which is causing many Chinese factories to lose their jobs due to the tariffs. The low-level tariff could go to 50 percent or 100 percent, Trump's critics were wrong for thinking he just bluffing when he said was going to threaten all the out-trade war.  Trump can raise the economy to a higher level it also put the economy in danger.

The US president is suggesting to making new laws that could discretion, china could put off the interim agreement. Trump signed the Hong Human Rights and Democracy and ignored China's threat to retaliation. China reacted with anger and outrage blasting the U.S for interfering in China's domestic affairs also calling in the US ambassador to protest. Beijing may be temporarily putting the stop on trade with the U.S  he’s showing  displeasure. Hong Kong and Trump spoke on their right for Chinese's President Xi Jinping saying how the bill also protects Hong Kong act but many people from China and Hong Kong are being in enacted on hoping the leader and the representative of this two countries will be able to understand their differences leading to long term agreement for peace and prosperity for both countries.

China wants to decrease all U.S tariffs in the aspect of all the Chines goods a removing it from the United States. The sources with direct knowledge on trade told the Global Times, the U.S removing tariff which isn't planned be a part of a deal. China's ruling Communist Party also unidentified sources, U.S officials had been demanding tariffs because of the only weapon they have to give up in the trade war. The United States imposes an additional 15% tariff on $156 billions of Chines goods on Dec. 15 expecting all the tariffs to arrive but Chine pressed for a rollback for all the tariffs. After the rollback from China, Donald Trump said deal aimed at defusing the trade war with China, the president Xi Jinping said he was a desire for a trade agreement. Both countries' trade negotiators said again to work on the reminding issues.

Another trading war on U.S soybean on the awaiting how China will deal with brazil and Argentina exporters for the no deal. Donald Trump said famers are getting to tick in the U.S who may come lose outcrops from South America. Argentinian trade said the farmers are hoping a no-deal for strong export to China can continue. Argentina and Brazil are having problems with the U.S because of then being absent from the Chinese markets over the past 16 months Hefty tariffs have seen US soybean sales to China have fallen to 90 percent cent with largest replaced from the imports from Brazil. There was a report in 2015 on the output from the US which was %10 bigger than Brazil a billion-dollar investment in Brazilian infrastructure to secure a long-term supply of the soybean it needs. China has bought more than 6 million tons of Argentinian beans and out to a total of roughly 85 million metrics in almost 100 percent of Argentina's soybean export to China. Analysts have said there’s no doubt China can demand the US $50 billion in the agricultural purchase and more the double in 2012 record trade.

Donald Trump is taking the trade war to another level slap all tariffs back to Argentina steel making it the first time on linking them to currency. The two-nation with Argentina and China has become a big factor in suppling for soybeans and agricultural products to other countries.

The president of Brazil Jaír Bolsonaro talked to he's an economy minister before reacting to Trump's comments on real fraud on steel tariff Brazil has hand many times over the past months and he supporting it revalues. Last year in August Jaír Bolsonaro gave South Korea, Brazil, and Argentina a relief on quotas on the enforcement on steel shipments on having more protection on U.S producers and allowing the consumers to appeal the dispensation for imports from key suppliers This gave a relief from the quotes Donald trump was making on the imposed on inbound steel shipments on allowing the buyers to request exemptions from key suppliers. The U.S has brought more than 3.8 million tons of steel from Brazil according to U.S Census Bureau data, the steel accounts are about 3.5 percent of the 110 million tons of steel consumed in the U.S year. The U.S Trade representative negotiates with countries to achieve a turn on a temporary tariff into permanent ones.

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The president of the United State is imposing a tariff to make it more effective on steel and aluminum that is shipped to the United States from Brazil and Argentina. He wanted attention from Federal Reserve to the central bank so countries will no longer be taking advantage of U.S dollar by decreasing the currencies which cause to make it harder for the manufacturers and farmers to fairly transporting their good at a lower rate.

  The president is taking the trade war to another level which is harming it and makes it better many other ways in our trading world economic system. There was been a lot of trade war with other countries than not only China, but China is our major country that has a big issue with trading because all the disagree, we have the president. The United States gets most of its items from China for a long time but the president bringing it another level an most of all the countries causing many trade wars.

 References

  • Deal must come soon or Trump will escalate trade war, top adviser warns. (2019, September 20). Retrieved from https://www.scmp.com/economy/china-economy/article/3028164/donald-trumps-adviser-china-michael-pillsbury-says-president.
  • Hands tied by Hong Kong acts, Trump sends signal to Beijing on trade. (2019, November 28). Retrieved from https://www.scmp.com/news/china/diplomacy/article/3039826/hands-tied-hong-kong-democracy-act-donald-trump-sends-signal.
  • Latest round of Trump's tariffs on China takes effect on many consumer goods. (2019, September 1). Retrieved from https://www.latimes.com/business/story/2019-08-29/latest-round-of-trumps-tariffs-on-china-take-effect-on-many-consumer-goods.
  • Lee, S. Y. (2019, December 1). China wants U.S. tariffs rolled back in phase one trade deal: Global Times. Retrieved from https://www.reuters.com/article/us-usa-trade-china-tariffs/china-wants-u-s-tariffs-rolled-back-in-phase-one-trade-deal-global-times-idUSKBN1Y50Q4.
  • Murray, B., Deaux, J., & Bloomberg News. (2019, December 2). Did Donald Trump just take the trade war to a whole new level? Retrieved from https://business.financialpost.com/news/economy/trump-revives-brazil-argentina-steel-tariffs-swipes-at-fed.
  • Rachel Siegel, T. M. C. (2019, December 2). Trump will reimpose steel and aluminum tariffs on Brazil and Argentina, opening new trade war fronts. Retrieved from https://www.washingtonpost.com/us-policy/2019/12/02/trump-announces-tariffs-steel-aluminum-brazil-argentina/.

 

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