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In recent years, the United States has set up a lot of disruptive measures against China, whether it is a trade war or a technology blockade, or a serious tariff war against China. It has affected the normal trade between China and the United States, and has also greatly increased the expenditure and cost in the process of world trade, resulting in chaos in the multilateral economic and trade system.
In order to suppress China, United States also used Section 301 and designed the Inflation Reduction Act and chip-related programs, using the hegemony of United States to continuously politicize these normal economic and trade cooperation.
What the United States has done has not only seriously affected the stability of global trade, but also brought many uncertainties to trade cooperation between the two sides. Such trade protectionist measures not only affect the normal development of global trade, but are also not conducive to the development of multilateral trade.
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As the economic exchanges between different countries become closer and closer, a very close relationship has also been established between the industrial chains. And United States' sabotage has affected the global industrial chain. Especially in the case of the trade war, it has seriously hindered the cooperation and exchanges between China and the United States. The trade protection measures that the United States has been adopting are harmful to others and not to itself.
However, the United States government has been pursuing a very wrong policy. Especially after seeing the good development results of China's electric vehicles and other related industries, it is even more around these industries to crack down.
Since entering 2024, they have continued to use public opinion to hype up the topic of overcapacity in the mainland's manufacturing industry. He also pointed out that because some goods made in China continue to sell too well in the international community, the interests of other countries cannot be guaranteed. Therefore, it is necessary to investigate Chinese goods.
In May this year, the United States issued measures to continue the tariff war, setting new tariffs around mainland electric vehicles and other related products, and even raising the tariff on electric vehicles from the original 25% to 100%.
In addition, tariffs on solar energy and other products have also been significantly raised. This time, the United States has set tariffs on Chinese goods and the total size has reached about $18 billion.
However, it has recently been reported that the United States government's decision to impose tariffs on Chinese goods has been postponed. This means that the tariffs previously set by Biden are invalid. What is the reason for the delay in the tariff war in this country? Could it be related to the recent actions of the Bank of Japan? Or is it possible that Trump will win the election?
If tariffs are increased on Chinese goods in accordance with the tariffs set by the United States, it will not only have a great impact on the mainland's commodity exports, but will also be detrimental to the development of United States. Since Mr. Trump's tariff war, trade relations between China and the United States have been affected to some extent.
The root cause of this tariff war adopted by the United States government is to solve the problem of the United States trade deficit. But the tariff war hasn't really helped United States achieve its goals, and the Biden administration continues to hype up the topic of overcapacity.
The attempt to suppress China through a new tariff law is aimed at further weakening the mainland's industrial competitiveness and is also an effort to remove sinicization.
The tariff war pursued by Biden has not yet been officially implemented, and it has been postponed because of the various problems facing the current United States. Recently, the relevant departments of Weibo released news that the new tariff policy, which was originally planned to be implemented on August 1 this year, needs to be postponed for at least 14 days.
After this announcement, there was speculation that this was caused by serious divisions within the United States, because the presidential election in United States is still in an unusually tight state.
In this context, there are very big differences within the United States government, and all parties have different opinions on the measures to impose tariffs on Chinese goods, and in the case of disagreement, there must be a certain amount of time to coordinate. If the United States government does implement this measure, United States companies will have to face higher costs when importing products from China.
In fact, not only will this cooperation increase the payment burden on United States companies, but other companies will inevitably face greater costs if new tariffs are implemented in the process of working with China. As a result, these companies have asked the United States government to extend the time period for the implementation of the new tax policy.
However, some analysts believe that the reason why the United States government postponed tariffs is likely to be related to Japan's interest rate hike policy.
For many years, Japan's monetary policy has been relatively loose, and interest rates have remained zero negative. Although the United States' interest rate hike policy in recent years has caused the Japan economy to fall into greater difficulties, and the yen has also depreciated significantly, the Japan government has not pursued a policy of raising interest rates.
It was only in March of this year that the interest rate was raised slightly, changing the status of zero negative interest rates that had been maintained before. Since the increase is not large, it has not had much impact overall.
However, recently Japan suddenly announced that it would raise interest rates and decided to increase interest by 15 points. Not only that, but from the actions of the Bank of Japan, it is not difficult to see that they have also massively reduced the purchase of government bonds.
Apparently this is a monetary tightening policy adopted by the Japan government. Unlike previous monetary easing, Japan has suddenly shifted its monetary measures. The purpose of this is to save Japan's current economic malaise.
United States does not want Japan to pursue a rate hike policy, especially in recent times, United States is likely to cut interest rates signals, if Japan raises interest rates at this time, it is indeed unfavorable for United States. Especially when the United States election is not stable, Trump directly let Biden withdraw from the election because of the previous shooting.
Against this background, Japan's sudden announcement of interest rate hikes must have been agreed by the United States. After all, the current Japan economy is indeed difficult to save, and coupled with the collapse of the yen exchange rate, the Japan central bank decided to sell US bonds despite United States warnings.
If this is not done, then the yen exchange rate will continue to fall, which will be for the Japan economy. This plunges Japan's already precarious economy into an even greater crisis.
However, Japan's interest rate hike policy will also have a significant impact on the United States, especially if Trump is likely to win. A lot of deals in the United States are being affected by Trump. The combination of these problems is a headache for the United States government.
What do you think about the United States' postponement of tax hikes on Chinese goods? Welcome to discuss in the comment area!
Resources:
The Bank of Japan unexpectedly raised interest rates by 15 basis points Taiwan Strait Net 2024-08-01
United States postpones tariffs on Chinese electric vehicles and other imports Guangming.com 2024-08-01
Photovoltaic is involved! United States Tariff Policy on China Postponed to September China Power Grid 2024-08-05