Box 2: The Chinese and American economies are interlinked, and bilateral trade and investment are mutually beneficial
涓撴爮2 涓編缁忔祹鐩镐簰铻嶅悎锛岃锤鏄撴姇璧勬儬娉藉弻鏂?br />China and the US are each other's largest trading partner and important source of investment. In 2018, bilateral trade in goods and services exceeded US$750 billion, and two-way direct investment approached US$160 billion. China-US commercial cooperation has brought substantial benefits to both countries and both peoples.
涓編浜掍负鏈€澶ц锤鏄撲紮浼村浗鍜岄噸瑕佹姇璧勬潵婧愬湴銆?018骞达紝鍙岃竟璐х墿鍜屾湇鍔¤锤鏄撻瓒呰繃7500浜跨編鍏冿紝鍙屽悜鐩存帴鎶曡祫绱杩?600浜跨編鍏冦€備腑缇庣粡璐稿悎浣滅粰涓ゅ浗鍜屼袱鍥戒汉姘戝甫鏉ヤ簡瀹炲疄鍦ㄥ湪鐨勫埄鐩娿€?br />According to China Customs, the trade in goods between China and the US grew from less than US$2.5 billion in 1979 when the two countries forged diplomatic ties to US$633.5 billion in 2018, a 252-fold increase. In 2018, the US was China's largest trading partner and export market, and the sixth largest source of imports. According to the US Department of Commerce, in 2018 China was the largest trading partner of the US, its third largest export market, and its largest source of imports. China is the key export market for US airplanes, soybeans, automobiles, integrated circuits and cotton. During the ten years from 2009 to 2018, China was one of the fastest growing export markets for American goods, with an annual average increase of 6.3 percent and an aggregate growth of 73.2 percent, higher than the average growth of 56.9 percent represented by other regions in the world.
鍦ㄥ弻杈硅锤鏄撴柟闈紝鏍规嵁涓浗娴峰叧缁熻锛屼腑缇庤揣鐗╄锤鏄撻浠?979骞村缓浜ゆ椂鐨勪笉瓒?5浜跨編鍏冿紝澧炶嚦2018骞寸殑6335浜跨編鍏冿紝澧為暱浜?52鍊嶃€?018骞达紝缇庡浗鏄腑鍥界涓€澶ц锤鏄撲紮浼村浗绗竴澶у嚭鍙ｅ競鍦恒€佺鍏ぇ杩涘彛鏉ユ簮鍦般€傛牴鎹編鍥藉晢鍔￠儴缁熻锛?018骞达紝涓浗鏄編鍥界涓€澶ц锤鏄撲紮浼寸涓夊ぇ鍑哄彛甯傚満绗ぇ杩涘彛鏉ユ簮鍦般€備腑鍥芥槸缇庡浗椋炴満銆佸ぇ璞嗐€佹苯杞︺€侀泦鎴愮數璺€佹鑺辩殑涓昏鍑哄彛甯傚満銆?009骞磋嚦2018骞村崄骞撮棿锛屼腑鍥芥槸缇庡浗璐х墿鍑哄彛澧為暱鏈€蹇殑甯傚満涔嬩竴锛屽勾鍧囧閫熶负6.3%锛岀疮璁″闀?3.2%锛岄珮浜庣編鍥藉涓栫晫鍏朵粬鍦板尯56.9%鐨勫钩鍧囧骞呫€?br />Trade in services between China and the US is flourishing and highly complementary. The two countries have conducted extensive, in-depth, and mutually-beneficial cooperation in tourism, culture, and intellectual property. China is the largest destination for US tourists in the Asia-Pacific and the US is the largest overseas destination for Chinese students. According to Chinese figures, two-way trade in services rose from US$27.4 billion in 2006, the earliest year with available statistics, to US$125.3 billion in 2018, a 3.6-fold increase. In 2018, China's services trade deficit with the US reached US$48.5 billion.
涓編鏈嶅姟璐告槗钃媰鍙戝睍銆佷簰琛ユ€у己锛屼袱鍥藉湪鏃呮父銆佹枃鍖栥€佺煡璇嗕骇鏉冪瓑棰嗗煙寮€灞曚簡骞挎硾娣变汉銆佹湁鐩婄殑鍚堜綔銆備腑鍥芥垚涓虹編鍥藉湪浜氬お鍦板尯绗竴澶ф梾娓哥洰鐨勫湴锛岀編鍥芥垚涓轰腑鍥藉鐢熷嚭澧冪暀瀛︾涓€澶х洰鐨勫浗銆傛牴鎹腑鏂圭粺璁★紝涓編鏈嶅姟璐告槗棰濅粠缁熻寮€濮嬬殑2006骞?74浜跨編鍏冨鑷?018骞寸殑1253浜跨編鍏冿紝澧為暱浜?.6鍊嶃€?018骞达紝涓浗瀵圭編鏈嶅姟璐告槗閫嗗樊杈?85浜跨編鍏冦€?br />Over the past forty years, two-way investment between China and the US has grown from near zero to approximately US$160 billion, and this cooperation has proved fruitful. According to MOFCOM, by the end of 2018 accumulative Chinese business direct investment in the US exceeded US$73.17 billion. The rapid growth of Chinese business investment in the US has contributed to local economic growth, job creation, and tax revenues. According to MOFCOM, the paid-in investment by the US in China was US$85.19 billion by the end of 2018. In 2017, the total annual sales revenues of US-invested companies in China were US$700 billion, with profits exceeding US$50 billion.
杩囧幓40骞达紝涓編鍙屽悜鎶曡祫鐢卞嚑涔庝负闆跺埌绱杩?600浜跨編鍏冿紝鍚堜綔鍗撴湁鎴愭晥銆傛牴鎹腑鍥藉晢鍔￠儴缁熻锛屾埅鑷?018骞村簳锛屼腑鍥戒紒涓氬湪缇庡浗鐩存帴鎶曡祫閲戦731.7浜跨編鍏冦€備腑鍥戒紒涓氬湪缇庡浗鐨勬姇璧勮繀鐚涘闀匡紝涓轰績杩涘綋鍦扮粡娴庡彂灞曪紝澧炲姞灏变笟鍜岀◣鏀朵綔鍑轰簡绉瀬璐＄尞銆傜編瀵瑰崕鎶曡祫鏂归潰锛屾牴鎹腑鍥藉晢鍔￠儴缁熻锛屾埅鑷?018骞村簳锛岀編鍥藉鍗庡疄闄呮姇璧?51.9浜跨編鍏冦€?017骞达紝缇庤祫浼佷笟鍦ㄥ崕骞撮攢鍞敹浜?000浜跨編鍏冿紝鍒╂鼎瓒呰繃500浜跨編鍏冦€?br />Therefore, if trade in goods and services as well as two-way investment are taken into account, China-US trade and economic relations are mutually beneficial, rather than the US "being taken advantage of".
鍥犳锛屽鏋滄妸涓編鍙屾柟鍦ㄨ揣鐗╄锤鏄撱€佹湇鍔¤锤鏄撳拰鍙屽悜鎶曡祫绛夋柟闈㈢患鍚堣€冭檻锛屽弻鏂圭粡璐稿線鏉ユ槸鎯犳辰褰兼鐨勫叧绯伙紝鑰岄潪鎵€璋撶編鍥解€滃悆浜忊€濈殑缁撴灉銆?br />(I) The tariff measures the US imposed harm others and are of no benefit to itself
The US administration has imposed additional tariffs on Chinese goods exported to the US, impeding two-way trade and investment cooperation and undermining market confidence and economic stability in the two countries and globally. The US tariff measures lead to a decrease in the volume of China's export to the US, which fell by 9.7 percent year-on-year in the first four months of 2019, dropping for five months in a row. In addition, as China has to impose tariffs as a countermeasure to US tariff hikes, US exports to China have dropped for eight months in a row. The uncertainty brought by US-China economic and trade friction made companies in both countries more hesitant about investing. China's investment in the US continues to fall and the growth rate of US investment in China has also slowed down. According to Chinese statistics, direct investment by Chinese companies in the US was US$5.79 billion in 2018, down by 10 percent year-on-year. In 2018, paid-in US investment in China was US$2.69 billion, upby only 1.5 percent year-on-year compared with an increase of 11 percent in 2017. With the outlook for China-US trade friction unclear, the WTO has lowered its forecast for global trade growth in 2019 from 3.7 percent to 2.6 percent.
缇庡浗鏀垮簻瀵逛腑鍥借緭缇庡晢鍝佸姞寰佸叧绋庯紝闃荤鍙岃竟璐告槗鎶曡祫鍚堜綔锛屽奖鍝嶄袱鍥戒箖鑷冲叏鐞冨競鍦轰俊蹇冨拰缁忔祹骞崇ǔ杩愯銆傜編鍥界殑鍏崇◣鎺柦瀵艰嚧涓浗瀵圭編鍑哄彛棰濅笅婊戯紝2019骞?鏈堣嚦4鏈堝悓姣斾笅闄?.7%锛岃繛缁?涓湀涓嬮檷銆傚悓鏃讹紝鐢变簬涓浗涓嶅緱涓嶉拡瀵圭編鍥藉姞绋庨噰鍙栧姞寰佸叧绋庡簲瀵癸紝缇庡浗瀵瑰崕鍑哄彛杩炵画8涓湀涓嬮檷銆備腑缇庣粡璐告懇鎿﹀甫鏉ョ殑涓嶇‘瀹氭€т娇涓ゅ浗浼佷笟瀵瑰紑灞曟姇璧勫悎浣滄寔瑙傛湜鎬佸害锛屼腑鍥藉缇庢姇璧勬寔缁笅婊戯紝缇庡浗瀵瑰崕鎶曡祫澧為€熶篃鏄庢樉闄嶄綆銆傛嵁涓浗鏈夊叧鏂归潰缁熻锛?018骞翠腑鍥戒紒涓氬缇庣洿鎺ユ姇璧?7.9浜跨編鍏冿紝鍚屾瘮涓嬮檷10%銆?018骞寸編鍥藉疄闄呭鍗庢姇璧勯噾棰?6.9浜跨編鍏冿紝澧為€熶粠2017骞寸殑11%澶у箙鍥炶惤鑷?.5%銆傜敱浜庝腑缇庣粡璐告懇鎿﹀墠鏅笉鏄庯紝涓栫晫璐告槗缁勭粐灏?019骞村叏鐞冭锤鏄撳闀块€熷害鐢?.7%涓嬭皟鑷?.6%銆?br />(II) The trade war has not "made America great again"
锛堜簩锛夎锤鏄撴垬娌℃湁缁欑編鍥藉甫鏉ユ墍璋撶殑鈥滃啀娆′紵澶р€?br />The tariff measures have not boosted American economic growth. Instead, they have done serious harm to the US economy.
鍔犲緛鍏崇◣鎺柦涓嶄粎娌℃湁鎺ㄥ姩缇庡浗缁忔祹澧為暱锛屽弽鑰屽甫鏉ヤ簡涓ラ噸浼ゅ銆?br />First, the tariff measures have significantly increased production costs for US companies. The Chinese and US manufacturing sectors are highly dependent on each other. Many American manufacturers depend on China's raw materials and intermediary goods. As it is hard for them to find good alternative suppliers in the short term, they will have to bear the costs of the tariff hikes.
涓€鏄彁楂樼編鍥戒紒涓氱敓浜ф垚鏈€備腑缇庡埗閫犱笟鐩镐簰渚濆瓨搴﹀緢楂橈紝璁稿缇庡浗鍒堕€犲晢渚濊禆涓浗鐨勫師鏉愭枡鍜屼腑闂村搧锛岀煭鏈熷唴闅句互鎵惧埌鍚堥€傜殑鏇夸唬渚涘簲鍟嗭紝鍙兘鎵挎媴鍔犲緛鍏崇◣鐨勬垚鏈€?br />Second, the tariff measures lead to domestic price hikes in the US. The import of value-for-money consumer goods from China is a key factor behind the long-term low inflation in the US. After the additional tariffs were imposed, the final selling price of Chinese products increased, leaving American consumers effectively bearing some tariff costs. According to research by the US National Retail Federation, the 25 percent additional tariffs on furniture alone will cost the US consumer an additional US$4.6 billion per year.
浜屾槸鎶崌缇庡浗鍥藉唴鐗╀环銆傝繘鍙ｄ腑鍥界墿缇庝环寤夌殑娑堣垂鍝佹槸缇庡浗閫氳儉鐜囬暱鏈熶繚鎸佷綆浣嶇殑閲嶈鍥犵礌涔嬩竴銆傚姞寰佸叧绋庡悗锛屼腑鍥戒骇鍝佹渶缁堥攢鍞环鏍兼彁楂橈紝瀹為檯涓婄編鍥芥秷璐硅€呬篃鎵挎媴浜嗗叧绋庢垚鏈€傜編鍥藉叏鍥介浂鍞晢鑱斿悎浼氱爺绌舵樉绀猴紝浠呭涓浗瀹跺叿寰佹敹25%鍏崇◣涓€椤癸紝灏变娇缇庡浗娑堣垂鑰呮瘡骞村浠樺嚭46浜跨編鍏冪殑棰濆鏀嚭銆?br />Third, the tariff measures have an impact on US economic growth and people's livelihood. A joint report by the US Chamber of Commerce and the Rhodium Group in March 2019 showed that, under the impact of China-US economic and trade friction, US GDP in 2019 and the next four years could decrease by US$64-91 billion per year, about 0.3-0.5 percent of total US GDP. If the US imposes 25 percent tariffs on all Chinese goods exported to the US, US GDP will decrease by US$1 trillion in the next ten years cumulatively. According to a research report in February 2019 by Trade Partnership, an American think-tank, if the US imposes 25 percent additional tariffs on all imported Chinese goods, US GDP will decrease by 1.01 percent, with 2.16 million job losses and an additional annual burden of US$2,294 on a family of four.
涓夋槸褰卞搷缇庡浗缁忔祹澧為暱鍜屾皯鐢熴€傜編鍥藉晢浼氬拰鑽ｉ紟闆嗗洟2019骞?鏈堣仈鍚堝彂甯冪殑鎶ュ憡鏄剧ず锛屽彈涓編缁忚锤鎽╂摝褰卞搷锛?019骞村強鏈潵4骞寸編鍥藉浗鍐呯敓浜ф€诲€煎皢鍙兘姣忓勾鍑忓皯640浜胯嚦910浜跨編鍏冿紝绾﹀崰缇庡浗鍥藉唴鐢熶骇鎬诲€兼€婚鐨?.3%锛?.5%銆傚缇庡浗瀵规墍鏈変腑鍥借緭缇庡晢鍝佸緛鏀?5%鍏崇◣锛屾湭鏉?0骞寸編鍥藉浗鍐呯敓浜ф€诲€煎皢绱鍑忓皯1涓囦嚎缇庡厓銆傜編鍥芥櫤搴撯€滆锤鏄撲紮浼粹€濓紙Trade Partnership锛?019骞?鏈堝彂甯冪殑鐮旂┒鎶ュ憡鏄剧ず锛屽缇庡浗瀵规墍鏈変腑鍥借緭缇庡晢鍝佸姞寰?5%鐨勫叧绋庯紝缇庡浗鍥藉唴鐢熶骇鎬诲€煎皢鍑忓皯1.01%锛屽氨涓氬矖浣嶅皢鍑忓皯216涓囦釜锛屼竴涓洓鍙ｄ箣瀹舵瘡骞存敮鍑哄皢澧炲姞2294缇庡厓銆?br />Fourth, the tariff measures lead to barriers to US exports to China. The 2019 State Export Report, published by the US-China Business Council on May 1, 2019, stated that in the ten years from 2009 to 2018, US exports to China supported over 1.1 million jobs. The Chinese market continues its importance to US economic growth. Forty-eight states of the US have increased their goods exports to China during the last decade 鈥?44 of them by double digits 鈥?while in 2018, when economic and trade friction worsened, only 16 states increased their goods exports to China. Thirty-four states exported fewer goods to China, with 24 of them seeing a double-digit decrease. The Midwestern agricultural states were hit particularly hard. Under tariff measures, exports of American agricultural produce to China decreased by 33.1 percent year-on-year, including a 50 percent drop in soybeans. US businesses are worried that they might lose the Chinese market, which they have been cultivating for nearly 40 years.
鍥涙槸闃荤缇庡鍗庡嚭鍙ｃ€傜編涓锤鏄撳叏鍥藉鍛樹細2019骞?鏈?鏃ュ彂甯冪殑銆婂悇宸炲鍗庡嚭鍙ｆ姤鍛娾€斺€?019銆嬫寚鍑猴紝2009骞磋嚦2018骞村崄骞撮棿锛岀編鍥藉鍗庡嚭鍙ｆ敮鎾戜簡瓒呰繃110涓囦釜缇庡浗灏变笟宀椾綅锛屼腑鍥藉競鍦哄缇庡浗缁忔祹鑷冲叧閲嶈銆傚湪姝ゅ崄骞翠腑锛岀編鍥?8涓窞瀵瑰崕璐х墿鍑哄彛瀹炵幇绱澧為暱锛屽叾涓?4涓窞瀹炵幇涓や綅鏁板闀匡紝浣嗗湪涓編缁忚锤鎽╂摝鍔犲墽鐨?018骞达紝缇庡浗浠呮湁16涓窞瀵瑰崕璐х墿鍑哄彛瀹炵幇澧為暱锛?4涓窞瀵瑰崕鍑哄彛涓嬮檷锛屽叾涓?4涓窞鍑虹幇涓や綅鏁伴檷骞咃紝涓タ閮ㄥ啘涓氬窞鍙楁崯鏈€涓轰弗閲嶃€傚彈鍏崇◣鎺柦褰卞搷鐨勭編鍥藉啘浜у搧瀵瑰崕鍑哄彛鍚屾瘮鍑忓皯33.1%锛屽叾涓ぇ璞嗛檷骞呰繎50%锛岀編鍥戒笟鐣屾媴蹇冧粠姝ゅけ鍘诲煿鑲蹭簡杩?0骞寸殑涓浗甯傚満銆?br />(III) US trade bullying harms the world
锛堜笁锛夌編鍥借锤鏄撻湼鍑岃寰勬畠鍙婂叏鐞?br />Economic globalization is a firmly-established trend of the times. Beggar-thy-neighbor unilateralism and protectionism are unpopular. The trade protectionist measures taken by the US go against the WTO rules, damage the multilateral trading system, seriously disrupt global industrial chains and supply chains, undermine market confidence, and pose a serious challenge to global economic recovery and a major threat to the trend of economic globalization.
缁忔祹鍏ㄧ悆鍖栨槸涓嶅彲闃绘尅鐨勬椂浠ｆ疆娴侊紝浠ラ偦涓哄鐨勫崟杈逛富涔夈€佷繚鎶や富涔変笉寰椾汉蹇冦€傜編鍥介噰鍙栫殑涓€绯诲垪璐告槗淇濇姢鎺柦锛岃繚鍙嶄笘鐣岃锤鏄撶粍缁囪鍒欙紝鎹熷澶氳竟璐告槗浣撳埗锛屼弗閲嶅共鎵板叏鐞冧骇涓氶摼鍜屼緵搴旈摼锛屾崯瀹冲競鍦轰俊蹇冿紝缁欏叏鐞冪粡娴庡鑻忓甫鏉ヤ弗宄绘寫鎴橈紝缁欑粡娴庡叏鐞冨寲瓒嬪娍閫犳垚閲嶅ぇ濞佽儊銆?br />First, the US measures are undermining the authority of the multilateral trading system. The US has launched a series of unilateral investigations, including those under Sections 201, 232 and 301, and imposed tariff measures. These are a serious breach of the most fundamental and central WTO rules, including most-favored-nation treatment and tariff binding. Such unilateralist and protectionist actions have harmed the interests of China and other WTO members. More importantly, they have undermined the authority of the WTO and its dispute settlement system, and exposed the multilateral trading system and international trade order to peril.
涓€鏄崯瀹冲杈硅锤鏄撲綋鍒舵潈濞併€傜編鍥戒緷鎹浗鍐呮硶鍙戣捣鈥?01鈥濃€?32鈥濃€?01鈥濈瓑涓€绯诲垪鍗曡竟璋冩煡锛屽苟閲囧彇鍔犲緛鍏崇◣鎺柦锛屼弗閲嶈繚鍙嶄笘鐣岃锤鏄撶粍缁囨渶鍩烘湰鏈€鏍稿績鐨勬渶鎯犲浗寰呴亣銆佸叧绋庣害鏉熺瓑瑙勫垯銆傝繖绉嶅崟杈逛富涔夈€佷繚鎶や富涔夎涓轰笉浠呮崯瀹充腑鍥藉拰鍏朵粬鎴愬憳鍒╃泭锛屾洿鎹熷浜嗕笘鐣岃锤鏄撶粍缁囧強鍏朵簤绔В鍐虫満鍒剁殑鏉冨▉鎬э紝浣垮杈硅锤鏄撲綋鍒跺拰鍥介檯璐告槗绉╁簭闈复闄╁銆?br />Second, the US measures threaten global economic growth. With the shadow of the international financial crisis still lingering over the global economy, the US government has escalated economic and trade friction and hiked additional tariffs, provoking corresponding measures by the countries involved. This disrupts global economic and trade order, dampens world economic recovery, and undermines the development of companies and the well-being of people in all countries, plunging the world economy into the "recession trap".
浜屾槸濞佽儊鍏ㄧ悆缁忔祹澧為暱銆傚叏鐞冪粡娴庡皻鏈畬鍏ㄨ蛋鍑哄浗闄呴噾铻嶅嵄鏈虹殑闃村奖锛岀編鍥芥斂搴滃崌绾х粡璐告懇鎿︺€佹彁楂樺叧绋庢按骞筹紝鐩稿叧鍥藉涓嶅緱涓嶉噰鍙栫浉搴旀帾鏂斤紝瀵艰嚧鍏ㄧ悆缁忚锤绉╁簭绱婁贡锛岄樆纰嶅叏鐞冪粡娴庡鑻忥紝娈冨強鍚勫浗浼佷笟鍙戝睍鍜屼汉姘戠绁夛紝浣垮叏鐞冪粡娴庤惤鍏モ€滆“閫€闄烽槺鈥濄€?019骞?鏈堬紝涓栫晫閾惰鍙戝竷銆婂叏鐞冪粡娴庡睍鏈涖€嬫姤鍛婏紝灏?019骞村叏鐞冪粡娴庡闀块鏈熻繘涓€姝ラ檷鑷?.9%锛岃锤鏄撳叧绯绘寔缁揣寮犳槸涓昏涓嬭椋庨櫓涔嬩竴銆傚浗闄呰揣甯佸熀閲戠粍缁?019骞?鏈堝彂甯冪殑銆婁笘鐣岀粡娴庡睍鏈涖€嬫姤鍛婏紝灏?019骞村叏鐞冪粡娴庡闀块鏈熶粠2018骞撮璁＄殑3.6%涓嬭皟鑷?.3%锛屽苟琛ㄧず缁忚锤鎽╂摝鍙兘浼氳繘涓€姝ユ姂鍒跺叏鐞冪粡娴庡闀匡紝缁х画鍓婂急鏈凡鐤插急鐨勬姇璧勩€?br />Third, the US moves disrupt global industrial and supply chains. China and the US are both key links in global industrial and supply chains. Given the large volume of intermediary goods and components from other countries in Chinese end-products exported to the US, US tariff hikes will hurt all the multinationals 鈥?not least those from the US 鈥?that work with Chinese companies. The tariff measures artificially drive up the costs of supply chains, and undermine their stability and security. As a result, some businesses are forced to readjust their global supply chains at the expense of optimal resource allocation.
涓夋槸鎵颁贡鍏ㄧ悆浜т笟閾俱€佷緵搴旈摼銆備腑缇庨兘鏄叏鐞冧骇涓氶摼銆佷緵搴旈摼鐨勯噸瑕佺幆鑺傘€備腑鍥藉缇庡嚭鍙ｇ殑鏈€缁堜骇鍝佷腑鍖呭惈澶ч噺浠庝粬鍥借繘鍙ｇ殑涓棿浜у搧鍜岄浂閮ㄤ欢銆傜編鍥藉鏉ヨ嚜涓浗鐨勮繘鍙ｄ骇鍝佸姞寰佸叧绋庯紝鍙楀鐨勫皢鏄寘鎷編鍥戒紒涓氬湪鍐呯殑涓庝腑鍥戒紒涓氬悎浣滅殑浼楀璺ㄥ浗鍏徃銆傚姞寰佸叧绋庢帾鏂藉鑷翠緵搴旈摼鎴愭湰浜轰负澧炲姞锛屽奖鍝嶄緵搴旈摼鐨勭ǔ瀹氬拰瀹夊叏銆傞儴鍒嗕紒涓氳杩皟鏁翠緵搴旈摼鍏ㄧ悆甯冨眬锛屽叏鐞冭祫婧愭棤娉曞疄鐜版渶浣抽厤缃€?br />It is foreseeable that the latest US tariff hikes on China, far from resolving issues, will only make things worse for all sides. China stands firm in opposition. Recently, the US administration imposed "long-arm jurisdiction" and sanctions against Huawei and other Chinese companies on the fabricated basis of national security, to which China is also firmly opposed.