Trade Agreements Between China And Us

People`s Daily, the official newspaper of the Communist Party of China, said China would be able to withstand the trade war and that Trump`s policy was about American consumers. [269] Economist Paul Krugman said in September 2020 that if Democratic candidate Joe Biden wins the U.S. presidential election, he should maintain a firm stance against China, but focus more on industrial policy than on trade tariffs. [326] After the cessation of trade negotiations, the Trump administration increased tariffs on $200 billion of Chinese goods from 10 to 25 percent. China is doing the same by announcing plans to increase tariffs on U.S. goods worth $60 billion. President Trump says he believes the high costs imposed by tariffs will force China to make a deal favorable to the United States, while China`s Foreign Ministry says the United States has "extravagant expectations." Days later, the Trump administration banned U.S. companies from using remotely traded telecommunications equipment that could threaten national security, a move that could target Huawei. The U.S. Department of Commerce is also adding Huawei to its blacklist for foreign companies.

Economists at financial firm Morgan Stanley expressed concern about the end of the trade war, but warned in June 2019 that this could lead to a recession. [321] In an essay on foreign policy, U.S. Secretary of State Hillary Clinton describes an American "pivot" to Asia. Clinton`s call to "increase investment - diplomatic, economic, strategic and otherwise - in the Asia-Pacific region is seen as a step against China`s growing influence. This month, at the Asia-Pacific Economic Cooperation Summit, U.S. President Barack Obama announces that the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership - a multinational free trade agreement. Obama later announced plans to deploy 2,500 marines to Australia, prompting criticism from Beijing. China`s monetary policy has been another hot topic, as China has deliberately kept its currency undervalued for years. However, China has moved towards a more market-based exchange rate, but China`s monetary policy is still under close scrutiny. Other issues affecting bilateral trade flows include China`s industrial policy, which favours state-owned enterprises, differences of opinion on China`s WTO obligations, and the lack of protection of U.S.

intellectual property rights. In September 2019, U.S. automakers reduced their capital investments and delayed the shutdown due to uncertainty caused by the trade war. [225] Another reason for anticipating further trade conflicts is that China may not be able to fully implement all of its WTO obligations within the agreed timeframe. What is positive is that even before the conclusion of its WTO negotiations, China accepted some of the commitments it made in bilateral negotiations with the United States in 1999 and with the European Union in 2000. For example, the Government has already approved an agreement authorizing AT-T to acquire a 25% interest in a joint venture to provide broadband telecommunications services in Pudong, Shanghai, which it had to accept after joining the WTO. China has also introduced tariff reductions for items under its obligation to participate in the WTO Information Technology Agreement. Some of the tariff reductions in early 2000 were not necessary until 2004 or 2005.

China has also taken early steps to meet some of its obligations to liberalize foreign participation in audiovisual services, construction, retail, legal services and distribution services. In order to create a level playing field for domestic and foreign companies operating in China, financial, financial and regulatory authorities have begun