In the current multipolar pattern, the mainland, as an important pole, has gradually developed into a world power that can directly affect the international pattern in economic, political, military, cultural and other aspects, and is regarded by other countries as a powerful competitor in the great power game.
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Since the Biden administration took office, the United States has increasingly intensified sanctions against China, transitioning from a traditional trade war to a direct tariff war. Tariff wars are often paralleled with trade wars, or directly used as a means of trade wars, to achieve the direct purpose of restricting the entry of goods from other countries into their own borders. At present, the United States has gradually detached itself from multi-level trade targets, shifted to a more explicit tax increase model, launched multiple rounds of tariff wars, and continuously expanded the scope and intensity of additional taxes on mainland exports.
During the Trump administration, the United States has resorted to tariff wars to restrict the flow of mainland capital within its home territory, increasing economic and trade friction between China and the United States, and escalating the conflict.
As early as March 2018, Trump imposed large-scale taxes on Chinese imports based on the results of internal investigations, and raised the threshold for mainland companies to enter the United States, so as to restrict China's investment in the United States.
By the second half of 2018, the United States imposed tariffs of up to 25% on Chinese imports in two batches, and the value of the additional goods was as high as $50 billion. In the face of such a provocation, the mainland immediately counterattacked, imposing countermeasures and imposing additional taxes on $60 billion of goods from the United States.
Later, in 2020, China and the United States reached a brief consensus and signed the first phase of the economic and trade agreement, so that the additional taxes on the import and export of goods between the two countries remained relatively stable and reasonable.
But just a year later, the Biden administration took office, which immediately broke the relative stability, and the US once again reversed course, restarting the Trump-era trade war model and increasing efforts to impose additional taxes on mainland imports.
At present, the new energy industry is in the transition stage from starting to accelerating in the world, and has huge development prospects. At this stage, the development of the new energy industry in the mainland is flourishing. In response to this, in order to restrict the mainland's new energy products from seizing the domestic market, the US has imposed tariffs of up to 25% to 100% on the mainland's related new energy products, such as electric vehicles, solar cells, semiconductors, and other products, and has introduced a series of policies to restrict the development of the mainland's related industries.
On the premise of taking the lead in violating the principle of fair trade, US Treasury Secretary Janet Yellen still asked China not to take countermeasures.
In the face of such egregious acts, China has a resolute attitude and will take necessary measures to firmly safeguard China's legitimate rights and interests. After our attitude was expressed, the mainland further reduced its holdings of U.S. Treasury bonds, and the reduction reached a new low. However, the mainland's reduction of holdings is not a voluntary sell-off, but the inevitable result of the US side's continued tariff imposition, which will undermine the economic and trade exchanges between the two countries and affect financial stability.
The US continues to wage a trade war with China, essentially seeking to reconstruct the "de-China" international trade pattern. After years of Sino-US trade frictions, the mainland's external economic development momentum is still strong, which is closely related to the mainland's pursuit of diversified development pattern and its commitment to the domestic and international cycles. On the other hand, in the face of the growing strength of the mainland, the US side has made great efforts to formulate and introduce policies to curb the mainland's development, which has deviated from the inevitable trend of economic and political globalization.
The friction between China and the United States in foreign economic and trade is only one level of the game between the two countries. China's growing strength has brought a strong sense of crisis to the United States, which is the world's sole superpower, and the United States' attempt to consolidate its status as a great power through unilateralism and trade protectionism is ultimately a departure from the ultimate law of global connectivity. It is hoped that the US side will proceed from the interests of the two countries and introduce reasonable policies and measures to seek long-term and sustainable development for both sides.