China’s US gold rush: China dumps billions of dollars on US goods to beat Trump tariffs

Thursday, November 8, 2018
By Paul Martin

CHINA has imposed its own tariffs on farm products following the US levies on its goods as the trade war between the two world super powers escalates.

Thu, Nov 8, 2018

Beijing has retaliated to Donald Trump by blocking purchases of US soybeans and imposing its own tariffs on farm products.

Before the trade war, China was the biggest buyer of US soybeans.

US President Mr Trump imposed tariffs on Chinese goods worth $250billion to force Beijing to stop intellectual property theft and forced technology transfers, improve market access for US firms and cut its high-tech industrial subsidy programme.

Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics, said: “I think Trump has a free hand to pursue his aggressive approach. If anything, the Blue Wave of Democrats will be as hawkish, if not more hawkish, than Trump on China.”

Scott Kennedy, head of China studies at the Strategic and International Studies in Washington, said: “President Trump has paid no political price for taking a tough line on China.

“I still see the short term-political and long-term strategic signals on China still pointing in the same direction”.

The House Democratic leader Nancy Pelosi has commended Trump’s initial round of tariffs on China.

She said: “The United States must take strong, smart and strategic action against China’s brazenly unfair trade policies.”

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