ISP.docx

November 29, 2018 Commerce

Tran Thanh Thao CIA4UDr. Tobias TimmJune 21, 2018THE ECONOMY OF CHINA AND USA”Willing speech but unwilling heart” is the clearest sentence to describe the true relationship between USA and China. For the reason, being well-known for occupying the top positions in the economic rank, in the world, between two countries, things happen in order to take the first position in the rank. Hence, it came as no surprise when the wars of trade taken place by the BIG 2. The initial shot was carried out by USA, specifically, the President of USA – Donald Trump. USA has brought an accusation against China Cyber for having the theft of intellectual property. According to a 2017 report by the United States Trade Representative, the department found out strong evidence that China have used the foreign-ownership restrictions to compel American companies to switch technology to local firms and that China supports and conducts cyberattacks on U.S. companies to access trade secrets. Thus, Trump decided to impose on $50 billion worth of Chinese goods, taking aim at China’s theft of US intellectual property.Standing up for the American companies to have the fairest competition in the playing field with Chinese, Donald Trump has approved for the increase in the tariffs of solar panels and washing machine to 30% and 20%, respectively. No longer after the first fight, the second approval ratified by the Commerce Department is to increase the tariffs for aluminum and steel imports to 25% and 10%. The potential tariffs are widely seen as being directed at China – the world’s largest market of steel. Obviously, Chinese government is not inferior after the public attack from Trump’s army. Even though they issued the threats by themselves, only after the imposition tax about aluminum and steel goods, did the Chinese government make a clear retaliation by adding the tariffs of up to 25% on 128 American products, including wine, pork and pipes. During few days, the back and forth have played out which cause the escalate tensions between two countries. Still, there were peaceful offerings from both, yet, it did not last for long. The new list about the imposed products was proposed by Trump, which increased the total number of the money to $200 billion of tariffs. On the other side, the Chinese’s commerce ministry replied with decisive vows to retaliate by boosting up the tax of agricultural products and manufacturedgoods. Obviously, it is not exaggerated at all when The New York Times has made a satirical implication that “Both sides have shown a willingness to escalate tensions to get what they want — and a capacity to diffuse situations to win over the other side”. It is clearly to say the bilateral trade between China and USA is now beyond the control by any means of solutions. A question is pointed out: At all costs, why does Trump and his subordinates want to win in this war badly? What will they receive after this war? Loss or gain? At the beginning, the purpose of the war is to find back the right and advantages for American workers after the trade secrets being infringed by Chinese hackers and lost at least $225 billion to $600 billion annually. Despite a serious and reasonable reason, it is strongly believed that USA is affected a lot during the war. Section 301, which is the trade lever presently being deployed by the Trump administration, was amended in 1984 to authorize the president to impose trade sanctions against countries that failed adequately to protect intellectual property rights. However, trade sanctions are a very blunt policy instrument, satisfactory perhaps in the relatively unusual situation where a country’s legislation fails to protect subject matter or rights as required by a governing treaty, but far less satisfactory as a tool against individual depredations, which are usually better dealt with through criminal or civil law enforcement.WORKS CITEDAngulo, I. (2018, March 05). China’s alleged intellectual property theft a bigger threat to market than tariffs: Analyst. Retrieved June 20, 2018, from https://www.cnbc.com/2018/03/02/chinas-alleged-intellectual-property-theft-a-bigger-threat-to-market-analyst.htmlChina Begins to Question Whether It’s Ready for a Trade War. (2018, June 25). Retrieved June 26, 2018, from https://www.bloomberg.com/news/articles/2018-06-25/as-trade-war-looms-china-wonders-whether-it-s-up-for-the-fightHow does China steal U.S. intellectual property? (2018, April 16). Retrieved June 20, 2018, from https://www.futurity.org/intellectual-property-theft-china-1730942/Jin, K. (2017, February 22). Chinas Weapons of Trade War by Keyu Jin. Retrieved June 20, 2018, from https://www.project-syndicate.org/commentary/china-trump-trade-war-by-keyu-jin-2017-02LaMagna, M., ; Passy, J. (2018, June 16). Will a trade war with China impact American consumers? Retrieved June 20, 2018, from https://www.marketwatch.com/story/cheaper-bacon-and-pricier-electronics-how-trade-war-with-china-impacts-you-2018-04-04Leonard, J. (2018, June 21). White House Split Over Hardline Response to China Trade War. Retrieved June 20, 2018, from https://www.bloomberg.com/news/articles/2018-06-21/u-s-weighs-resuming-china-talks-amid-split-on-trump-trade-teamLong, H. (2018, April 05). Analysis | In a U.S.-China trade war, who has more to lose? Retrieved June 20, 2018, from https://www.washingtonpost.com/news/wonk/wp/2018/04/05/china-has-more-to-lose-in-a-trade-war-but-trump-has-a-key-weakness/?utm_term=.5e651767dcc0N. (2017, February 10). Why America would lose a trade war with China. Retrieved June 20, 2018, from https://www.imd.org/publications/articles/why-america-would-lose-a-trade-war-with-china/T. (2018, April 16). Boao Forum for Asia: Impact of China-US trade war is wide. Retrieved June 20, 2018, from https://www.telegraph.co.uk/news/world/china-watch/business/china-us-trade-war-impact/The New York Times. (2018, April 04). The Latest on the U.S.-China Trade Conflict: Exchanging Tariffs. Retrieved June 20, 2018, from https://www.nytimes.com/2018/04/04/business/us-china-trade-tariffs.htmlThe New York Times. (2018, April 04). The Latest on the U.S.-China Trade Conflict: Exchanging Tariffs. Retrieved June 20, 2018, from https://www.nytimes.com/2018/04/04/business/us-china-trade-tariffs.htmlThe United States has long said that intellectual property theft has cost the US economy billions of dollars in revenue, ; Jobs., T. O. (2018, March 23). How much has the US lost from China’s intellectual property theft? Retrieved June 20, 2018, from http://money.cnn.com/2018/03/23/technology/china-us-trump-tariffs-ip-theft/index.htmlYueh, L. (2018, April 24). How a US-China trade war would hurt us all | Linda Yueh. Retrieved June 20, 2018, from https://www.theguardian.com/commentisfree/2018/apr/05/us-china-trade-war-supply-chains-consumers

x

Hi!
I'm Amanda

Would you like to get a custom essay? How about receiving a customized one?

Check it out