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"Trump's Trade Dump"

Summary of Update

Trump inked a historic trade agreement with China, reducing hostilities between the

world's two biggest economies in the midst of a trade war following claims that China had

been controlling its market and plundering American proprietary information for decades.

Beijing has agreed to stop stealing intellectual property, desist from market manipulation,

cooperate in financial institutions, and buy an extra $200 billion worth of American goods

over the next two years in terms of the accord (Phillips). The Trump administration has been

considering ways to penalize or compensate China for what it perceives to be hiding

information on the disease.

The American government has already gone through a number of moves to break

connections with China, including severing financial ties between U.S. federal retirement

funds and Chinese stocks. Intelligence agencies are growing increasingly confident that the

epidemic escaped from the Wuhan facility, not as a biological weapon but as part of a

Chinese attempt to demonstrate that its ability to detect and battle infections is on par with or

better than that of the United States.

Event's Greater Significance

Relations with China worsened under Trump, who declared closing trade gaps

between the U.S. and its partners a political goal. The world's two biggest economies fought

in a related employment trade battle for nearly two years before Trump, and Chinese

President Xi Jinping negotiated a partial trading relationship (Puzder). The pact marks a
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watershed moment in American trade strategy and the sorts of free-trade agreements that the

country has traditionally favored. Instead of cutting tariffs to let goods and services flow

freely to fulfill market demand, this agreement maintains a record level of levies. It requires

China to purchase $200 billion worth of particular items within two years. The strategy,

according to Mr. Trump and his allies, corrects previous trade agreements that encouraged

corporate offshoring and resulted in the loss of companies and sectors. According to

detractors, it is the sort of management trade policy that the U.S. has long opposed,

particularly in relation to China and its economic control.

Your Take

I take a conservative perspective on this subject; Trump wants to profit politically by

capitalizing on China's vow to increase intellectual property rights, make substantial

purchases of American goods, and undertake other economic measures that will help

American firms. However, this does not indicate that it will be helpful in the future; instead,

the U.S. economy will start to weaken in front of China. This tactic, I feel, is only suitable for

Trump because he wants to deliver something to the public, and the exaggerated charts will

always startle people.

Your Questions

The first question is this: how beneficial is this proposal specifically for the American

side? The question was asked because it is clear that the United States, against the backdrop

of economic growth in China, does not show itself from the best side. World events may

make you think about changing your decisions about trading with large countries like China.

The second question is: what is China ready to do to continue these agreements because they

will definitely bring significant growth to their economy. However, whether President Biden

is prepared for this is still unknown, although he has not terminated this agreement

(FOXBusiness). This means that China will think that the United States continued this treaty
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or signed a new one.

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Works Cited

FOXBusiness. "Biden Says He Won't Immediately Remove Trump's Tariffs on China." Fox

Business, 2 Dec. 2020, www.foxbusiness.com/politics/biden-says-he-wont-

immediately-remove-trumps-tariffs-on-china.

Phillips, Morgan. "Trump on China Trade Deal: 'I Feel Differently Now About That Deal

Than I Did Three Months Ago.'" Fox News, 19 May 2020,

www.foxnews.com/politics/trump-china-trade-deal-i-feel-differently.

Puzder, Andy. "Andy Puzder: Trump's China Trade Deal Brings U.S. Great Benefits, Fulfills

Campaign Promise." Fox News, 14 Dec. 2019, www.foxnews.com/opinion/andy-

puzder-trumps-china-trade-deal-brings-us-great-benefits-fulfills-his-campaign-

promise.