China will not give in to US’ new trade extortion

080205
[Photo/IC]

It is nothing more than gangsterism for the Donald Trump administration to indicate it is considering raising the pending tariffs on $200 billion worth of Chinese goods from the 10 percent to 25 percent.

News the administration might jack up the tariffs came immediately after reports that the two countries were going to return to the negotiating table. The timing betrays the US has no qualms about trying to squeeze as much as it can from its trade partners with crude strong-arm tactics.

But the US government is wrong if it believes that China will give in to its trade shakedown. However high it jackscrews the tariffs it imposes on Chinese imports, China will not cave in to the pressure and will retaliate in kind to the best of its ability.

Its stance is consistent and unambiguous, it will accept negotiation, but it will not pander to rapaciousness.

If the US government sincerely wants to settle the trade frictions through talks, it should show its sincerity. There is no bona fides in saying “let’s talk a deal” while using threats.

By presenting the possibility of ending the dispute through talks, while denying that outcome by making impossible demands, the US administration is being duplicitous.

Its contrivance will only stoke the fires of resentment at home as US farmers, companies and consumers will feel increasing pain the longer the trade frictions continue.

While the Trump administration has already announced it will provide $12 billion in emergency aid to ease the misery of US farmers brought about by the tariffs, the US Chamber of Commerce estimates that another $27.2 billion would be required to prop up other sectors battered by the retaliatory tariffs from the US’ trade partners.

How big a Band-Aid is the Trump administration prepared to provide to try and prove a point that is wrong in the first place?

There are always remedies worse than the disease. If the US takes measures to further escalate this situation, China will undoubtedly respond with countermeasures.

The US administration likes to wave the flag of nationalism, claiming it wants to make “America Great Again” — no doubt in an all-caps tweet exuding faux sincerity — but by wrapping its trade blows with the Stars and Stripes it is being neither patriotic nor honorable, since the sole object is bullied gains.

If the administration really wants to make America great again, it should start by buffing up the country’s image by acting in good faith and demonstrating it is sincere about wanting to secure an end to the trade dispute through talks.

 

 

Source: China Daily

Related articles