President Trump and Xi Jinping staredown, courtesy of Trump White House Archive via Facebook
THE GATEWAY PUNDIT |
Published November 1, 2024
Trump was right on China in 2016, and he’s right in 2024. The U.S. needs to economically decouple and stop funding the military it’s most likely to face in a future conflict.
During his 2016 campaign, President Trump promised a tough stance on China. Democrats and mainstream media criticized his approach, claiming his trade restrictions and tariffs triggered a “destructive” and “failed” trade war.
Now, as the 2024 election approaches, Trump pledges an even tougher approach to China, with 100% tariffs. Critics are reviving old arguments, suggesting that it would be better for the U.S. to elect Kamala Harris and foster closer economic ties with China.
However, these arguments were flawed in 2016 and are even weaker now. The Biden-Harris administration not only upheld Trump’s tariffs but also strengthened them and imposed additional restrictions on China’s access to technology, especially chips. At the very least, these arguments appear hypocritical.
Trump’s trade war with China is critical for national security, the economy, and accelerating decoupling from China for the U.S. and its allies.
As exporting from China to the U.S. becomes more costly, American and European manufacturers will be compelled to either move production to the U.S. or relocate to other countries, such as Vietnam, Thailand, India, and Indonesia.
Factories moving to the U.S. bring investment, create jobs, and generate tax revenue, as their profits are earned domestically rather than in China.
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SOURCE: www.thegatewaypundit.com
RELATED: China’s sanction-hit tech industry puzzles over impact of Trump, Harris presidencies
U.S. and Chinese flags are seen through broken glass in this illustration taken Jan. 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
REUTERS |
Published November 1, 2024
BEIJING, Nov 1 (Reuters) – Donald Trump winning the U.S. presidency next week would muddle the outlook for Chinese technology firms far more than a win for Kamala Harris, with executives saying his unpredictable style could lead as much to a reprieve for the sanction-hit industry as increased restrictions.
The Republican candidate initiated a Sino-U.S. trade war during his 2017-2021 presidency by banning high-tech exports to China citing unfair trade practices and national security. Yet his combative approach coupled with his record of sudden, wide-ranging tariffs could unsettle U.S. allies and undermine any coordinated effort, Chinese tech executives said.
He is tied in voter polls with his Democratic rival who executives expect to continue with the incumbent’s policy of regular, incremental changes to export controls and leveraging international alliances to slow China’s technological and military development.
Whoever wins, observers widely expect fresh restrictions to curb advances at a time when Beijing is more assertive in territorial disputes in the South China Sea, increasing navy and air force activity around Chinese-claimed Taiwan and strengthening ties with an at-war Moscow.
Predictability makes Harris the pick of the two for many executives yet, ironically, Trump’s seemingly erratic approach could work in China’s favour, according to opinions in over a dozen analyses published by Chinese industry groups, think tanks and brokerages, reviewed by Reuters.
The analyses provide a more candid window into how China’s tech sector is gauging its outlook under the next presidency, unlike state media which toe the government line on political and sensitive issues.
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SOURCE: www.reuters.com
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