China's Dominance

U.S.-China Trade Tensions Rise as Trump Proposes New Tariffs

Main image to the post U.S.-China Trade Tensions Rise as Trump Proposes New Tariffs

President-elect Donald Trump has announced that he intends to impose significant tariffs on imports from China, Canada, and Mexico, claiming these countries contribute to issues like drug trafficking and illegal immigration in the United States. He made this statement on social media, insisting that the tariffs will remain until there are improvements regarding these issues, particularly the flow of fentanyl and illegal migrants.

Chinese officials cautioned against such protectionist actions, arguing that economic partnerships between the U.S. and China are beneficial for both sides. Liu Pengyu, a spokesperson for the Chinese embassy, stated that no nation would prosper in a trade war. Additionally, Premier Li Qiang expressed concerns that protectionist policies would disrupt global supply chains, increase costs for businesses, and thwart mutual economic growth.

As Trump moves towards implementing these tariffs, economic experts predict that this could lead to a reopening of hostilities in U.S.-China trade relations. Despite Chinese hopes for negotiation, there currently seems to be little interest from the U.S. side in forging a broad economic agreement, especially in light of previous U.S. demands concerning market fairness, intellectual property rights, and restrictions on trade-distorting policies.

Nick Marro, an economist, noted that the current U.S. government’s mood toward China has soured due to Beijing's struggles to deliver on earlier promises of reform and cooperation. Furthermore, while there has been some collaboration between the two nations regarding drug production issues, Trump lamented that China had failed to act effectively against traffickers sending fentanyl precursors to the U.S.

The challenge of containing the flow of synthetic drugs is not limited to China; labs in countries like India are also implicated. Historically, Western nations have worked alongside China to mitigate these production and export issues, though frustrations remain on both sides regarding the ongoing opioid crisis in North America. Liu emphasized that the accusation that China allows such chemicals to be exported contradicts the realities of their joint anti-narcotics efforts.

Published By:
Round userpic of the post author ZmeeLove
Knight
STB-WLV
Your read-to-Earn opportunity:
Post Profit
Earned for Pluses ?
Comment Rewards?
Likes Own?
Likes Commenter?
Likes Author?
Dislikes Author?
Profit Subtotal, Twei ?
Post Loss
Spent for Minuses?
Comment Tributes?
Dislikes Own?
Dislikes Commenter?
Post Publish Tribute?
PnL Reports?
Loss Subtotal, Twei ?
Total Twei Earned: ?
Price for report instance: 1 Twei

Comment-to-Earn

how to comment-to-Earn
Opens automatically on LVL 13
Each time someone gives a like to you comment you earn Twei.
Potentially, the more comments you add the more Twei you earn.
SVG animated loader

More Read-to-Earn News

Here you can read and earn more Twei. It's real money.

Image placeholder for AI-generated post in Supremacy news game
May 21, 2023 | 05:09