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Foreign media claim that the United States cannot benefit from trade friction

Source:Iris Liang Time:2018-4-8 9:58:11

Foreign media claimed that although Trump boasted that "the trade war is a good thing and it is easy to win," the Sino-U.S. trade friction may cause major losses to both countries and the global economy. SEKO machinery will service for you no matter what happens. Our Pipe Leveling Machine improves the technology. Noise and oil consuming are lower than before, but efficiency is high, working with sliding trolley and double push oil pump.

According to the April 3rd's article of the American Market Watch website, there was no winner in the trade war. When a country tries to punish another country with a tariff increase, the exporter of the target country will suffer, but consumers in the countries where tariff penalties are imposed and imported consumer industries will also suffer. In fact, they may suffer greater economic losses than the target country. If the target country retaliates, the losses of the two countries will further increase.

The U.S. tariff penalties imposed on China will lead to an incidental loss of the U.S. economy as a whole. Nearly half of the US imports from China last year were daily necessities in the budget of working families, such as mobile phones, toys, furniture, clothing, and shoes. Adding tariffs on these goods will directly damage the wallets of millions of Americans.
The article stated that the addition of tariffs on other major categories of goods imported from China, such as computers, machinery and industrial supplies, will affect the profits and losses of US companies, increase their costs and weaken their competitiveness in the global market. Hundreds of thousands of Americans may be laid off.

The article stated that the US imposed tariffs are useless to reduce the trade deficit between China and the United States. If tariffs are successfully reduced to reduce imports from China, China’s investment in buying US exports or investing in US Treasury bonds and affiliates will be reduced. Both the imports from China and the goods exported to China will be reduced. As a result, the trade balance will not be affected, but the overall trade volume will decline and the trade income will decrease.

According to the article, the bilateral trade deficit has always been a misleading indicator of trade relations: it is not the different trade policies that drive the trade deficit, but the potential factors such as the national saving rate and investment rate and the normal demand of consumers. Another reason why the indicator is misleading is that a large part of the value of goods imported from China by the United States actually originates outside China.

The article believes that the right way to trade with China is not to provoke a trade war that cannot be won, but to seek international cooperation to solve common concerns. Such cooperation can produce beneficial results without the result of a two-pocket injury caused by the trade war.

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Iris Liang
SEKO Machinery & Technology Co., Ltd
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