Trump’s Trade Dump: Agreement With China

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Trump inked a historic trade agreement with China, reducing hostilities between the world’s two biggest economies during 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 with 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 several 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.

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 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 about China and its economic control.

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.