President Trump and President Xi Jinping of China have put a pause to the current trade war between the U.S. and China. This agreement does little to actually resolve the differences between the two countries and is rather meant to create some political breathing room for the two Presidents. The trade war has negative impacts on both the U.S. and China as we see both economies beginning to show more weaknesses. This agreement doesn't reverse the tariffs on $250 billion in Chinese goods but only prevents the tariffs from being increased. The existing tariffs are unlikely to be removed until China has "kept its promises of wholesale structural changes." The current point of conflict is the automobile industry where the Chinese are planning to enter the American market. President Trump's stance on this issue is focused on preventing heavy job losses in the automobile industry.
1. Do you think this is a step towards repairing the relationship between the two countries or is it just a pause on the conflict?
2. Will the 90 days of trade talks result in any change being made in either country?
3. Is the American economy being protected by these tariffs or are these tariffs weakening it?
1. Do you think this is a step towards repairing the relationship between the two countries or is it just a pause on the conflict?
2. Will the 90 days of trade talks result in any change being made in either country?
3. Is the American economy being protected by these tariffs or are these tariffs weakening it?
1) I think this is definitely a step towards repairing the relationship between the United States and China because recently there have been growing tensions by establishing higher tariffs in order to protect domestic companies. Therefore, by pausing the trade war, it is better to pause the trade war which is a good start towards repairing the relationship. I think that pausing the war will made the two countries take a step back to resolve the conflict.
ReplyDelete2) I think that the 90 days of talks could result in change being made in either country. I do not think this relationship is as bad as some other relationships between the United States and they have seen some progress with that. Therefore, I believe that the United States and China will lead to some change being resulted in either country.
3) I think the tariffs will eventually burden the consumer but they could also influence Americans to buy local and domestic products which could in turn help our economy. I think that the tariffs will burden the economic relationship between the United States and China which could in turn affect and impact our relationship and economy in general.
Clara Kennedy
ReplyDelete1. I think that, while pausing the trade war is a potential step towards repairing the relationship between the two companies, it is far more likely to only be a pause in the conflict. This agreement to not increase the tariffs presents an opportunity for the two countries to work together to resolve issues. However, based on the past behavior and relationship between the two presidents, I find it unlikely that this break in tensions will not make much progress in repairing the relationship.
2. I think that the 90 days of discussions may result in some progress in both countries, yet it is highly unlikely that significant progress will be made. However, I believe that some progress may be made due to both countries' concerns for their economies. Yet, as both countries were previously very forceful in not backing down in their tariffs, I think that progress will be limited.
3. I think that the tariffs mainly hurt the economy in that it reduces trade and raises prices for consumers. However, in the long term, the tariffs may eventually be helpful by creating a stronger domestic economy with greater participation. But, this progression will not be fast and may take too long to prove useful, leading to a very problematic economy before it improves.
1) This will help repair relationships between the US and CHina since the tariffs on both countries, to protect domsetic businesses, have been making international business much more difficult. The pause in the trade war will allow international business to continue to occur for now and will give both Presidents the ability to converse on what each country wants and how they can help both of each other’s economies.
ReplyDelete2) I think there can be some changes. SPecifically with China trying to introduce their automobiles to the U.S, which is the country that probably uses cars the most considering our public transit is not the best compared to countries like Japan. The question is, what do we get in return if we let them into this market which has lots of business.
3) I think if the tariffs continue to go higher, people will more likely than not begin buying more domestic products which could help us. However, if we prevent China from making profit through the tariffs compared to other companies we do not tax as much, it could in turn just affect the relationship of both the US and CHina
I think this is a step towards repairing the relationship between the two countries, as it shows that both nations understand the negative impacts of a trade war, and, hopefully, both will begin reducing tariffs soon.
ReplyDeleteI do not think the 90 days of trade talks will result in any immediate change being made in either country, but I think they will lead the way to fewer tariffs and more free trade between the US and China.
The American economy is being weakened by these tariffs. The trade war has hurt our economy, as products become more expensive and less profitable, making manufacturers less willing to import/export and making average consumers switch to cheaper goods. Tariffs are rarely the best decision, and as we have seen for centuries, tariffs, like the Hawley Smoot Tariff, just hurt the economy and contribute to economic recessions.
1. I think this will be able to give the leaders a cool off from and allow them to think about the situation more thoroughly. At least they realized that they need to solve this problem and are pausing to ensure the situation does not escalate further.
ReplyDelete2. No, I do not think that pausing for 90 days will change to either country, it will not hurt either country but will also not help either one. Hopefully, the pause can lead to a resolution later on but a month and a half probably will not fix anything.
3. The tariff war is negative for both countries. The US and China trade a great number of products and hurting their trade will overall hurt the US economy. Even though Trump wants to protect domestic jobs, manufacturing in the US has much more expensive labor costs.
1) I do believe that this is a step toward repairing relationships. We have seen that after most meetings Trump normally has compliments for the other side. I do believe that this will be the case. Toned down rhetoric will help ease tensions between the two sides. Thus this will help reduce the tension overall between the two countries.
ReplyDelete2) We cannot be sure weather or not the countries will change anything, but they will both be sure to give thought to the idea of reducing tensions. The pause will help show the two countries what it is like to have good relations again and if it proves beneficial to both it will help to cause them to want to continue to maintain strong relations.
3) In the short term these relationships will harm the United States economy, but in the long term it will definitely help. There is an unnaturally large trade deficit between the two countries and thus it is expected that trying to deuce this deficit through tariffs will help the economy latter.
1. Do you think this is a step towards repairing the relationship between the two countries or is it just a pause on the conflict?
ReplyDeleteIt certainly is a step towards repairing the relationship, but I am not holding out too much hope that relations will continue to get better. But, I do believe this reduces a large amount of tension, considering that this demonstrates that deals can be reached.
2. Will the 90 days of trade talks result in any change being made in either country?
I believe some change will be made, but nothing that is severely significant. I believe that the U.S. will not back down until china folds. If they ever do so. I doubt that the end of the 90 days of trade talk will mark the end of the trade war.
3. Is the American economy being protected by these tariffs or are these tariffs weakening it?
I believe that, while trade wars cause direct and immediate consequences for both countries, it will eventually be beneficial for the U.S. The U.S. will eventually be surpassed by China in terms of strength. Its inevitable. The American GDP per capita is nearly 7 fold that of the Chinese. I can't remember, but I believe that the average chinese needs to only produce a quarter of the avg gdp that an american produces in order for China to surpass America. China is notorious for their unfair tariffs and business and trade practices. If there is any time for a trade war, that time is probably now.
1. I think this agreement is proof that the US and China are still attempting to get along despite our competing goals. I don't think this completely repairs the relationship, but I think it is a step in the right direction. Pausing the increase in tariffs allows both sides to rethink their stances against one another and hopefully come to a better resolution.
ReplyDelete2. 90 days does not seems like a lot of time to get two very powerful countries to agree or compromise on a decision. I think the 90 days will give each country the time to set their priorities and figure out what they are willing to compromise, but I don't think substantial change will result from this period.
3. I think the goal of the tariffs is to help the US economy. If Chinese goods have taxes and are more expensive, consumers are more likely to buy American made products. Trump made it clear he wants to protect automobile industry jobs and I think these trade wars could potentially aid the American economy. Unfortunately, a lack of trading between the US and China will make certain goods unavailable or less common and could potentially hurt both countries if their is not an agreement made.
1. Obviously this is a step in the right direction but it means nothing if our next move is to immediately sprint back the way we came from. It all depends on what happens next, but this is a step in the right direction.
ReplyDelete2. That is the goal, but it is going to be pretty hard to tell what will actually happen. It definitely increases the odds of compromise but does nothing to guarantee anything.
3. After a certain point tariffs will hurt our economy, but there is a reason tariffs exist in general as some are necessary to guarantee our country fair trades that will benefit us the best. These tariffs are clearly hurting our economy for now, but what would happen if we instead let China walk all over us?
1. Do you think this is a step towards repairing the relationship between the two countries or is it just a pause on the conflict?
ReplyDeleteI think this is a good step towards repairing the relationship between these two conflicting countries even if it is just a pause. It shows that we are moving in the right direction to solving these conflicts.
2. Will the 90 days of trade talks result in any change being made in either country?
I do believe that the 90 days of trade talks will allow us to give a little truce time to see what's wrong with both countries and what each country has against each other and then hopefully to resolve those conflicts.
3. Is the American economy being protected by these tariffs or are these tariffs weakening it?
I think that the American economy is both being protected by these tariffs while weakening it. International business and commerce is always very good for an economy, gives us an out during low times and allows us to reach highs faster with the assistance of a foreign power. It also strengthens relationships with that foreign power.
1. The agreement doesn't seem like it is making a ton of progress. The demand that China "keep its promises of wholesale structural exchanges" seems vague, and the US can make that mean whatever they want it to mean. Not a ton of progress is being made, because the tariffs are just at a standstill and are not likely to increase nor decrease.
ReplyDelete2. The talks are not likely to have much effect. The agreements made are not super clear, and even if they were it is hard to say whether either country would honor them.
3. The tariff benefits the US economy because it encourages Americans to buy things made in the US and not China.