Escalating trade frictions won’t solve anything
By
Zhong Sheng
It’s
not hard to find that voices different from Washington always occurred in
American society every time the US government took actions to escalate trade
frictions with China.
On
August 28, Washington announced that it would impose additional tariffs on
Chinese goods starting from September 1 and December 15, respectively. On the
same day, an American free trade association consisting of more than 160
business organizations sent a joint letter to the US government, demanding that
all the tariffs on Chinese goods be immediately postponed.
The
race between rationality and irrationality has become a distinguishing feature
of China-US trade frictions. After months of escalating
trade frictions with China, what problems does Washington want to solve?
How does it intend to solve them? Why does it refuse to come back on the right
track? Washington’s moves have made the world confused.
It
is common sense that threatening other countries with tariffs and escalating
trade frictions is not conducive to the settlement of the existing trade and
economic issues, but makes the road to an agreement more lengthy.
Washington
started the trade war with China as some people regard the US trade deficits
with China as an absolute threat and think it is fair trade only when US
dollars flow in from China.
What
happened to the US after it escalated trade frictions with China? The cost of
the tariff increases has been passed on to American consumers. They are losing
money from their pockets as they pay higher prices for the same goods.
The
escalating tariff war, while it gets the attention, has masked a sharp decline
not in China-US trade, but in Chinese investments in the US, according to an
article published on the website of the Foreign Policy magazine.
Agence
France-Presse pointed out that imposing tariffs on Chinese goods will not help
the US resolve its trade deficit issue.
There
is no winner in the trade war and blindly escalating trade frictions can't
solve the economic and trade problems. The plan of certain people in the US to
force China into concessions by escalating trade frictions is doomed to fail.
China
will not make concessions in the face of extreme pressure. It is an inevitable
choice whether the US likes it or not.
Mutual
benefits and win-win results are the right pursuit of the time. To deal with
the economic and trade issues, China and the US must focus on their common interests
and make sincere actions to solve the problems.
The
two countries should effectively create conditions to conduct consultations on
the basis of equality and mutual respect, instead of walking further along the
wrong road.
China
always believes that negotiating and cooperating with a calm attitude is the
right path to solve problems. Such rational manner has won favor from people in
China, the US and even the entire world.
(Zhong
Sheng is a pen name often used by People's Daily to express its views on
foreign policy.)
Escalating trade frictions won’t solve anything
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