Project Sword
* As the war rages on, U.S. policymakers have always been fond of hyping up the power of "tariffs," especially in the face of China, the so-called "number one competitor." Let's take a closer look at this storm and see what role tariff policy has played in it.
In 2018, Trump waged a war against China, directly imposing 25% tariffs on $300 billion of Chinese goods. This strategy has been retained since Biden took office.
Why is Biden so insistent on tariffs on China? According to U.S. representative Tai Qi, this is to defeat a "strategically important" adversary, namely China. They touted that the policy would help "reshor" manufacturing, curb inflation, and create jobs.
However, Jay Timmons of the Association of American Manufacturers has been blunt that the tariffs have not given a substantial boost to U.S. manufacturing. Conversely, tariffs drive up costs, forcing consumers to bear higher**.
U.S. consumers and manufacturers do not agree with the tariffs. Labor Department data shows that the effect of tariffs on employment is not as good as advertised. Timmons, president of the Manufacturers Association, called for the elimination of tariffs and proposed a simpler and more economically common sense free agreement.
Seeing that *** is coming, Trump is leading the Republican Party, and he promised that if elected, he will impose a uniform 60% tariff on all Chinese products, and an additional 10% tariff on all other imports.
Despite the election cloud, the positive momentum of the recent U.S.-China Economic Working Group meeting has raised expectations for U.S.-China economic cooperation. It is hoped that this momentum will continue into the next meeting in April.
If the US insists on playing the "tariff card", Timmons' prediction may come true, which will only lead to a vicious circle of-for-tat. There is no winner in the war and tariff war, it will only harm others and oneself.
China has repeatedly stressed that the essence of China-US economic and trade relations is mutually beneficial and win-win results, and China and the United States should be committed to promoting healthy and stable economic and trade relations. Tariff addiction may be a hobby of American politicians, but the direction of win-win economic cooperation between China and the United States cannot be ignored.
Tariff policy may have its utilitarian benefits in the political arena, but in the real economy, its effect may not be as politicians say. The real winners may be those who are rational and pragmatic, not ordinary people who are burdened by tariff policies. In the midst of the prevailing situation, it is expected that rationality and cooperation can overcome impulses and confrontations, so that the global economy can be more stable and prosperous.