Daily Management Review

Trump Had To ‘Take China On’ Despite US Economy Being Impacted In The Short Term


08/21/2019




There was no path out for United States president Donald Trump but to take on China over trade even if that would mean some hit to the American economy in the short term since the US was being cheated upon by China doe decades, Trump has said.  
 
The comments from Trump were followed with the announcement of the approval by his administration for a sale of Lockheed Martin F-16 fighter jets to Taiwan for a deal of $8 billion. Analysts are sure that this would draw flack from China and further diminish the chances of the US and China coming to a trade agreement any time soon.  
 
The sensitive topic of the protest in Hong Kong was brought up on Monday by the US Vice President Mike Pence by saying that the integrity of the former British colony's laws should be respected by China. There have been months of weekend protests going on the Hong Kong demanding greater autonomy for the island city.
 
"Somebody had to take China on," Trump told reporters during a White House visit by Romanian President Klaus Iohannis replying to questions about the near complete tariffs imposed on Chinese imports. "This is something that had to be done. The only difference is I am doing it," he said.
 
"China has been ripping this country off for 25 years, for longer than that and it's about time whether it's good for our country or bad for our country short term. Long term it's imperative that somebody does this," he said.
 
The comments by Trump were apparently played down by China's Foreign Ministry.
 
"That the two sides have differences in issues of trade and the economy is not something to be scared of. The key is to resolve the issues through dialogue," ministry spokesman Geng Shuang told reporters in Beijing on Wednesday.
 
The threats and tariffs of Trump have already shaken up the global market and caused serious concerns among investors as it has been over a year that the two largest economies of the world have been engaged in a trade war. There is little evidence that the trade war could come to an end anytime soon. Analysts and political experts have predicted that Trump would want to carry on with the trade war up until the 2020 US presidential elections because he plans to run for a second term.
 
Financial markets were rattled last week after reports surfaced that the American economy could be pushed into a recession because of the trade war and reportedly there was doubt among US administration officials about whether the US economy could pull itself up till the presidential elections in November 2020.
 
Trump has dismissed the concerns about a recession saying: "We're far from recession."
 
According to a statement by US Secretary of State Mike Pompeo, over the next week to 10 days, it is expected that there would be telephonic conversations between US and Chinese trade representatives about the trade war which could be followed by a face-to-face meeting.
 
(Source:www.livemint.com)






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