The trading war between China and the United States, which began under the first tenure of US President Donald Trump, can resume if both sides fail to disagree to China on customs duties on US exports.
This was written by Financial Times, citing analysts.
In early February, Trump was ordered to set 10% customs duties on all goods imported from China, considering this step a way to fight against drugs, particularly fentani. They began to operate three days later, on February 4. In response, China launched an anti-monopoly investigation against Google and NVIDIA and set 15% fees on US carbon and liquid natural gas, as well as 10% customs duties on raw oil and agricultural machinery. The decision enters into force on February 10.
According to the expert at the China Center for International Economic Exchange, "This can just be the beginning of a trade war phase," and if the situation does not change, it will lead "very, very bad situation."
Some analysts expect the United States and China to talk to a major trade conflict. Trump said he hoped to talk to China's leader Si Jinpin, but after Beijing's response, he said that he was not in a hurry. Beijing experts believe that the Republican Party, trying to force China to sign an agreement, achieved the opposite effect.
According to Professor John Hong, Professor of Beijing International Business and Economics, Trump probably wants the Chinese authorities to talk about publicly. In particular, the Republican Party may request pressure on Russia due to some conditions for the sale of the War of Ukraine or TIKTOK.
Trade expert Wendy Katler believes that China, unlike Canadian and Mexico, "will play a long game". Analysts say that China is better to set customs duties now than last time, in addition, Beijing is more concerned about the US control over the export of technology.
