US wrong to think it can win a trade war

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2018-10-04

ShiYu/ChinaDailyThesigningofamemorandumtoimposetariffsofupto$60billiononChineseimportsandthedemandthatChinareduceitstradesurplusby$100billionbyUSPresidentDonaldTrumpis,tosaytheleast,oblemsintheshorttermthroughtrade,anddiplomaticandmilitarymeasures,inorderto"makeAmericagreatagain".ItalsowantstointerruptChinasindustrialupgrading,byattemptingtoigniteatradewar,,theUShasraisedtariffsofChineseproductssuchasnewgenerationinformationtechnologyproducts;high-endmachinetoolsandindustrialrobots;aerospace,oceanengineering,newenergy,high-techshippingandhigh-speedtrainequipment;agriculturalmachinery;newmaterials;,theseproductsaremadebythemajordevelopmentindustrieslistedinMadeinChina2025throughwhichChinaaimstoachieveindependentresearch,interestsifChinabecomesaleadingglobalplayerinthesefieldsby2025,theTrumpadmi,theUSisadeptatdealingwithatradewar,especiallybecauseofitseconomicand/,italsorequiressucheconomiesasCanada,MexicoandtheEuropeanUnion-whichalsoaremajorsteelandaluminumexporters-toimposetradesanctionsonChinainexchangeforbeingexemptedfromtheUS,,economistsestimatethepunitivetariffsonChineseimportswillonlyreduceChinaseconomydoesntdependontheUS,internationalorganizationsandthinktanks,Chinawillsufferlossesinatradewar,butitcanexpandtr,theUSwillbethebiswhyithasimposedpenaltytariffsonChinesehigh-techproducts,whileig,,herapidincreaseintheexportoflabor-intensiveproductstotheUS,TrumpsmovewillonlymakeUScitizenslifemoredifficultand,toacertainextent,stoplegislatureandtoppoliticaladvisorybodydecidedtodeepenreform,boostdomesticconsumptionandsolvetheproblemofsecondarydistributionofwealth,whichwilllargelyoffsetthenegativeimpactoftheUSswhyVice-PremierLiuHetoldtheUStreasurysecretaryduringtheir,ChineseAcademyofSocialSciences.。