The first shot fired in the ongoing US-China trade war occurred on April 7th of 2017. Since then, the conflict has been steadily escalating and hasn’t shown any sign of letting up or ending anytime soon.
The conflict between the world’s two largest economies reached a new highpoint after President Trump signed an executive order which banned all Huawei products being sold within the U.S.
Earlier this week in an interview with Fox News, when asked about relations between the United States and China, President Donald Trump announced that he was indeed ‘very happy’ with the Washington-Beijing trade feud.
Later he mentioned that although China maintains its strong aspirations to become the world’s foremost superpower, it was ‘not going to happen with me.’
“Our economy has been fantastic. Because they were catching us, they were going to be bigger than us. If Hillary Clinton became president, China would have been a much bigger economy than us by the end of her term. And now it’s not even going to be close”, President Trump asserted.
The statement comes while the two economic giants have been attempting to resolve disagreements that arose after Trump imposed 25 percent tariffs on $50 billion worth of Chinese goods in June in an effort to balance out the US-Chinese trade deficit. Following Trump’s bold move, both countries have exchanged several rounds of fresh trade duties on their bilateral trade tit for tat trade tussle.
When pressed about a conceivable end game pertaining to the bilateral trade war, Trump remarked, “We’re taking in billions of dollars. China is obviously not doing well like us.” With regard to the present state of the Chinese economy, Trump added that it was ‘not great’ at the moment.
The remarks about China come on the heels of a tweet he made last week about how Beijing is ‘dreaming’ that ex-US Vice President Joe Biden or any other globalist Democratic candidates would assume the highest post in the US government in 2020.
Biden announced that he would run for president last month.
In the same interview, Trump proclaimed that “China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next [US] election.”
Earlier in May, the latest round of trade negotiations between the United States and China ended in Washington DC, with either side failing to deliver any results. In turn, the White House imposed a new round of tariffs on $200 billion worth of Chinese goods. China, of course, has promised to retaliate against the move.
“Between countries, trade and investment must be based on mutual respect, equality and mutual benefit. As for what countermeasures the Chinese government and enterprises will take, please wait and see,” Lu Kang, a spokesman for the Chinese Foreign Ministry, underscored.
Beijing has also slammed the U.S. government’s decision to place Huawei, a massive Chinese telecom firm, on a blacklist, voicing intention to take action so as to safeguard Chinese firms’ ‘legitimate rights’.
Although the US-China trade war may have begun in April 2017, the two countries really became embroiled in the dispute in June of last year, when it was taken to new levels after Trump imposed 25 percent tariffs on $50 billion worth of Chinese goods.
After making a move which is unprecedented in modern history, Trump cited concerns that unfair Chinese trade practices were damaging U.S. companies, while at the same time demanding the trade terms between the two countries be adjusted to level the playing field.
Since then, the two economic superpowers have exchanged several rounds of trade tariffs on one another’s imported goods.