trade deficits-which occur when a country imports more than it exports-were inherently bad and that China was to blame. The Trump administration’s initial mistake in launching a trade war was to assume that U.S. In the meantime, then, Europeans may be in a better position for productive give-and-take discussions with China on economic policymaking. Nonetheless, there have been few signs to date that Biden is likely to change course. trade war was flawed, and the more recent, politically driven restrictions are counterproductive given the damaging long-term economic consequences for both sides. Biden now characterizes the U.S.-China conflict as “a battle between the utility of democracies in the twenty-first century and autocracies.”īut the logic underpinning the U.S. President Joe Biden so far has amplified his predecessor’s policies by strengthening anti-China alliances and implementing additional sanctions. business community to ease tensions, U.S. products and foreign investments involving security concerns and by allegations of unfair Chinese commercial practices.ĭespite pleas from the U.S. The tariffs were followed by restrictions on both China’s access to high-tech U.S. president Donald Trump’s obsession with trade deficits led him to impose punitive tariffs on China.
U.S.-China bilateral relations took a nosedive in 2018 when then U.S. What began as a trade war over China’s unfair economic policies has now evolved into a so-called cold war propelled by differing ideologies.
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