The Graphic Truth: Is the US-China trade war over?

[beijingwalker]

The Graphic Truth: Is the US-China trade war over?
January 03, 2022
Carlos Santamaria and Ari Winkleman

Let's be clear: the US and China are not in a new Cold War. For some time, China hawks in the Trump and Biden administrations, along with members of Congress, have been pushing for the US economy to "decouple" from China, especially on tech.

They have failed in many sectors. Despite political pressure in Washington, an ongoing trade war, and both countries preoccupied with domestic crises, the reality is that over the past two years the world's two largest economies have become more integrated — especially on global supply chains. We take a look at US-China annual trade levels since 2015.

https://www.gzeromedia.com/the-graphic-truth-is-the-us-china-trade-war-over

 

[xuxu1457]

At present, the tax rate on Chinese exports to the United States is 20%, compared with 3% before. I hope that the United States will continue to maintain high tariffs, so that we can work together to push up inflation in the United States.

 

[ozranger]

 

[Shotgunner51]

Stupid question, of course the trade war is still ongoing. Tariffs are still there, sanctions are still there, and more importantly hostility/hate remains as high as always if not growing further, what the fcuk is over? Let's escalate the war, it's only the beginning.

 

[Stranagor]

The outcome of the trade war had so far been:

1. Growing trade deficit and an even hungrier US consumption for Chinese exports

2. Declining importance of US market for China

3. Inflation in the US since tariffs are paid by the US consumer which the US keeps pumping up with QE money

4. Greater drive in China for tech independence (such as chips) and zero trust in US suppliers

5. Greater drive for regionalism, such as the RCEP

6. Emphasis on the BRI, especially, the ASEAN

I wonder what was the US thinking when they started the economic war.

 

[ozranger]

The outcome of the trade war had so far been:

1. Growing trade deficit and an even hungrier US consumption for Chinese exports

2. Declining importance of US market for China

3. Inflation in the US since tariffs are paid by the US consumer which the US keeps pumping up with QE money

4. Greater drive in China for tech independence (such as chips) and zero trust in US suppliers

5. Greater drive for regionalism, such as the RCEP

6. Emphasis on the BRI, especially, the ASEAN

I wonder what was the US thinking when they started the economic war.

Actually even before the pandemic outbreak, trade war significantly pushed up China's trade surplus as China drastically decrease imports and especially service imports from the US.

In the foreseeable future, I think China will keep minimising imports of technological products, mostly end products, from the US, while probably increasing imports of agricultural products, energy and raw material from the US. That will have great impact to some specific companies such as Boeing.