Opinion: Is the United States losing the trade war with China?
By Robert J. Samuelson Robert J. Samuelson Columnist focusing on economics Bio Columnist May 15 at 3:28 PM The Trump administration is going about its trade war with China all wrong. Its strategy and tactics are muddled. If President Trump were a general watching the battle unfold, what he’d see is his troops getting slaughtered, while the enemy, though suffering casualties, was holding most of its positions.
The United States has claimed that Beijing has rigged the competition in favor of its firms through government subsidies, the theft or coerced transfers of new technologies and outright discrimination against foreign firms doing business in China. Other countries lag, the SIA reports. South Korean firms are second with 22 percent of world sales, followed by companies from Japan at 10 percent, the European Union at 9 percent, Taiwan at 6 percent and China at 5 percent. The United States also has a trade surplus in semiconductors, which is the fourth largest U.S. export, behind aircraft, refined oil products and crude oil. In 2018, the U.S. trade surplus in semiconductors was $4.5 billion, says SIA.
The trade negotiations have apparently made little headway in resolving these issues. Meanwhile, the tariffs that the United States has imposed on China’s exports may hurt U.S. consumers. So far, the Trump administration has announced 25 percent tariffs on $250 billion of Chinese exports to the United States and has threatened higher tariffs on another $300 billion, covering virtually all Chinese exports to the United States.
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