Details Of Us China Trade Agreement

At the international level, the ultimate goal of the Trump administration`s trade war is to change China`s trade policy, while tariff enforcement and the negative economic effects of the trade war have also been criticized. Among U.S. industries, U.S. companies and agribusinesses opposed the trade war, although most farmers continued to support Trump. Some U.S. politicians disagree with Trump`s tactics, but most agree with the goal of putting pressure on China. [20] At the end of November 2019, none of the leading Democratic presidential candidates said he would eliminate tariffs, including Joe Biden and Elizabeth Warren, both of whom agreed that the United States must deal with what it sees as China`s unfair trade policy. [21] In August 2019, Peter Navarro, Trump`s trade adviser, said tariffs did not harm Americans. Politifact called Navarros` claim “Pants on Fire.” [218] In August 2019, Roger Johnson of the National Farmers Union, which represents about 200,000 farmers from families, farmers and fishermen, said the trade war was creating problems for U.S. farmers, noting, among other things, the decline in U.S.

soybean exports to China. [288] [Best Source Required] In the same month, the American Farm Bureau Federation, which represents the large agricultural industry, stated that the announcement of new tariffs “signals more problems for U.S. agriculture.” [289] In mid-2019, more than 600 companies and trade associations, including manufacturers, retailers and technology companies, wrote to Trump asking him to abolish tariffs and end the trade war, declaring that higher tariffs would have “significant, negative and long-term impacts on U.S. businesses. , farmers, families and the U.S. economy.” [294] In his January 2020 trade deal with China, President Donald Trump argued for victory in his trade war with China. In its self-proclaimed “historic” agreement, China committed to purchase other U.S. goods and services in 2020 and 2021. Trump even boasted that the deal “could be closer to $300 billion once it`s done.” U.S. farmers are particularly affected by Chinese retaliation. [194] In response, the Trump administration`s assistance resulted in farmers` hardships in the form of cash payments, guarantees of additional trade agreements and changes to environmental legislation for corn producers. [202] [203] [204] [205] [205] According to the American Farm Bureau, U.S.

agricultural exports to China increased from $24 billion in 2014 to $9.1 billion in 2018, including lower sales of pork, soybeans and wheat. Farm failures have intensified and agricultural machinery manufacturer Deere-Company has twice lowered its profit forecast between January and August 2019. [203] An August 2019 USDA report showed that Canadian wheat exports to China increased from 32% to more than 60% as U.S. wheat exports to China fell. [203] [206] Agricultural equipment producers were negatively affected by farmers` reluctance to invest in new equipment, with sales declining significantly in the first quarter of 2019. [207] [203] Despite the negative effects, the July 2019 polls showed that most farmers continued to support Trump, with 78% saying they thought the trade war would ultimately benefit American agriculture. [208] The Government Accountability Office announced in February 2020 that it would review the program after reporting that aid had been mis-distributed. [209] Hun Quach, vice president of international trade at the Retail Industry Leaders Association, said tariffs would affect U.S. family homes by raising the price of everyday items. [286] [298] [299] Mr. Trump said his agreement was a blessing for farmers among the hardest hit by the war