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Trade Agreements Us China

Since the 1980s, President Trump has often advocated tariffs to reduce the U.S. trade deficit and promote domestic production, saying the country was being “ripped off” by its trading partners and that the introduction of tariffs was an important part of his presidential campaign. [22] [23] [24] [25] [26] In early 2011, he stated that because China had manipulated its currency, “it is almost impossible for our companies to compete with Chinese companies.” [27] Alan Tonelson from the United States. The Business and Industry Council said China`s undervaluation level was at least 40 percent, and said tariffs were the only way to remedy this: “Nothing else has worked, nothing else will work.” [27] In November 2019, Jim Cramer declared that the trade war between the United States and China would continue for a considerable period of time, unless China bought a considerable amount of American products to prove the validity of the free trade quota arguments within the Trump administration. [323] The guide discusses U.S.-China relations in general; the general trade situation between the two countries and specific issues such as trade disputes and trade; the U.S. trade deficit with China; U.S. trade and Chinese state-owned enterprises, market/non-market economy assessment, and competitiveness; China`s monetary policy; and investments between the United States and China. Statistical resources, selected journals and databases are also made available. There are also links to the Library of Congress catalog searches that allow users to find additional works on this topic.

Select the themes you want to browse from the Library of Congress` list of thematic titles, which are included in each section, to link it directly to the catalog and automatically search for the selected theme. Not all relevant thematic reviews have been registered, but they should be a good starting point. For further assistance, please consult a librarian. Economist Paul Krugman said in September 2020 that if Democratic candidate Joe Biden wins the US presidential election, he should maintain a tough stance on China, but focus more on industrial policy than on trade tariffs. [326] Trump`s deal aims to facilitate the identification and suppression of intellectual property theft and counterfeiting. For example, it adds several provisions to protect confidential information that is considered trade secrets, which U.S. companies say are not well protected by Chinese law. These safeguards also include “electronic intrusions,” a reference to hacking into computer systems. Hong Kong economics professor Lawrence J. Lau argues that one of the main causes of the trade war is the growing struggle between China and the United States for global economic and technological dominance.

He says, “It is also a reflection of the rise of populism, isolationism, nationalism and protectionism almost everywhere in the world, including in the United States.” [268] Economists around the world estimate that the trade war will reduce growth by more than 0.5%. But some countries have profited from the struggle, which is estimated to have embezzled $165 billion in trade. In August 2018, Hong Kong-based academic Willy Lam said the trade war had shaken all concerns various Western countries had about China and undermined the authority of Chinese leader Xi Jinping. [259] [260] Zhang Baohui, a professor of political science at Lingnan University in Hong Kong, similarly stated that the trade war has effectively challenged the myth of Chinese invincibility, saying that tariffs “actually hurt China in a very bad time if the economy is in serious trouble.” [259] While updates on the trade war have strongly factored in investors over the past two years, the formal signing of the deal has been greeted by shrugging its shoulders…