THE US – CHINA TRADE WAR


THE US – CHINA TRADE WAR
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    Written by: Meshack Masibo
    When Donald Trump campaigned for election on a promise to make trade fairer for the US, his feud with one America’s oldest trading partners was quickly brewed. The immediate objective of President Trump’s action against China is to address what he calls the theft of American companies’ technology, but it also plays into his wider concern about the US trade deficit. He sees it as something that needs to be corrected and as the result of bad trade agreements and unfair trading by other countries. The trouble is that a trade deficit is generally regarded as being the result of savings and investment decisions rather than trade policy. A country that spends more than it earns has a trade deficit.
    One of the frontiers of the war has been the TPP agreement which came to be when Twelve countries that border the Pacific Ocean signed the agreement in February 2016, representing roughly 40% of the world’s economic output. The pact aimed to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. Members had also hoped to foster a closer relationship on economic policies and regulation. The agreement was designed so that ….. Readmore……

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