U.S. reveals clandestine advantage in prolonged rivalry with China, according to industry insider
Get ready for the big dance, folks! The stage is set for the next round of U.S.-China trade talks in London, and the stakes are high. Michael Pillsbury, Foreign Policy specialist and Heritage Foundation senior fellow on China strategy, gives us a heads up on what we can expect from these high-stakes negotiations.
According to Pillsbury, there are two possible scenarios unfolding. The ongoing tussle between Trump's 'strong China' advocates and the 'China is on the brink' camp will be put to the test in these trade talks. On one hand, there's a crew of analysts who predict that China is on the verge of economic collapse, with sky-high unemployment and struggling industries. On the other hand, there's those who argue that China has found its footing, and wields rare earth cards that could potentially make us desperate.
As Trump's trade team led by Treasury Secretary Scott Besset, Secretary of Commerce Howard Lutnick, and U.S. Trade Ambassador Jamieson Greer touch down in London, let's take a moment to see what's really at play here. The recent tariff spikes, seeing Trump slap tariffs as high as 145% on Chinese goods, and China retaliating with tariffs of its own, have taken a toll on our economies.
Last month, China and the U.S. did manage to reach a preliminary trade agreement. However, Trump voiced his displeasure with China's alleged breaches of this agreement in a Truth Social post at the end of May. Now, we wait for the latest developments as these talks unfold.
A word from Pillsbury, "You've got the extremists who portray China as weak, on the verge of collapse. If that's the case, these talks won't last long. But, I think the reality is China is actually quite strong."
In the worst-case scenario, American chip and battery manufacturers, as well as rare earth factories, could face a complete shutdown. The outcome of these talks will give us a clear indication of the strength of both economies and their resilience in this game of chess.
It's game time, folks! Let's see who's got the secret sauce to outsmart China in this long-term competition. #GameOn
- The Economic Costs of the U.S.-China Trade War
- U.S.-China Trade War: Impact, Timeline, and Latest News
- Understanding U.S.-China Trade War Timeline, Causes, and Effects
- How U.S.-China Trade War Affects Global Supply Chain
As the U.S.-China trade talks in London commence, there's growing interest in understanding the potential impact of the ongoing trade war on the domestic economy. (Policy-and-legislation, economics)
Investors are closely watching the development as taxes on imports from China could significantly affect stocks in industries reliant on those imported goods. (Stocks, taxes)
Keeping abreast of the trade war's news and updates is crucial for strategists and analysts trying to predict the long-term consequences and winner in this geopolitical competition. (General-news, politics)
