Trump’s Hostile Trade War on China
Borrowing a line from the Hollywood film The Gambler, “screw you” reflects Trump’s America first agenda.
His Commerce Department unjustifiably imposed restrictions on dozens of Chinese private and state-run companies, falsely claiming they threaten US national security, preventing them from buying certain technologically sophisticated products controlled under US Export Administration Regulations, yet freely sold to EU, Israel and other countries.
It’s part of the Trump regime’s plan to try undermining Beijing’s “Made in China 2025” strategy.
It aims to advance 10 economic sectors to world-class status, including information technology, high-end machinery and robotics, aerospace, marine equipment and ships, advanced rail transport, new-energy vehicles, electric power, agricultural machinery, new materials and biomedical products.
Companies and their subsidiaries targeted by Trump include the China Aerospace Science and Industry Corporation Second Academy, communications system manufacturer Hebei Far East Communication System, China Electronics Technology Group Corporation Engineering, China Volant Industry, and China Hi-Tech Industry Import and Export Corporation.
On Wednesday, the Trump regime threatened to increase tariffs on $200 billion worth of Chinese imports from 10 – 25% in response to Beijing refusing to bend to Washington’s will on trade, along with not being subservient to its hegemonic aims.
The comment period on proposed new tariffs was extended to September 5. Beijing warned it will retaliate hard to hostile Trump regime trade tactics.
China’s Global Times said “Trump wants to establish his ‘America first’ policy, and the trade war is a head-on blow to the entire world,” adding:
His regime is muscle-flexing to “force China to be a US economic vassal just like Japan when it accepted the Plaza Accord.”
According to Commerce Secretary Wilbur Ross, Trump “feels that it’s potentially time to put more pressure on” China, despite risking a full-blown trade war, harming both countries and the world economy.
The US wants Beijing prevented from becoming an economic powerhouse, especially in sophisticated technological areas, able to challenge and perhaps surpass America’s prominence.
That and US imperial objectives are what the Trump regime’s trade hostility toward China is all about, reflecting his “screw you” America first agenda.
My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”