Rethinking China trade policy: Lessons learned and options ahead

• Main Author: GAO, Henry S.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2021
• Subjects: Trade policy; United States; China; Asian Studies; International Trade Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/3696; https://ink.library.smu.edu.sg/context/sol_research/article/5654/viewcontent/Rethinking_China_Trade_Policy.NFAP_Policy_Brief.January_2021_2.pdf
• Institution: Singapore Management University

Looking back at the China trade policy of the Trump administration, the biggest lesson is that unilateralism simply doesn’t work, at least not against a major power like China. Despite the tumultuous two-and-half-year trade war and the Phase 1 deal hailed as an “unprecedented” deal promising “a more balanced trade relationship and a more level playing field for American workers and companies,” there has been little progress on the issues U.S. businesses and the Trump administration objected to in China’s trade and economic policies. It is not only the U.S. government that needs a more viable approach. Many companies would like to see an alternative policy that addresses what they consider unfair or even sometimes predatory practices by the Chinese government but without resorting to protectionist trade and investment policies in the United States. Imposing tariffs on Chinese imports has been ineffective and has harmed U.S. consumers and companies.