Why Trump Caved on China
Share
[aggregation-styles]
The Washington Post Subscription
President Trump’s “phase one” trade deal with China is largely a victory for Beijing. Just measure the agreement signed this week against the initial demands made by Washington in a leaked May 2018 document. As the Financial Times concludes, with regard to the central U.S. goals, “After almost two years of negotiations, tariffs and counter-tariffs, Mr. Trump has achieved none of these objectives.”
This outcome is partly a reflection of the two sides’ staying power. China is a one-party state that can take the long view. Trump gambled that he could hurt the Chinese economy enough with tariffs that the pain to American consumers — who have paid for those tariffs — would be worth it. But the president apparently decided that he wanted to smooth the economic waters as he runs for reelection. So he folded.
From a broader perspective, however, this trade deal reflects something new on the international landscape, something the United States is going to have to grapple with for decades. As I argue in Foreign Affairs, China is the first real peer competitor that the United States has faced in the modern era. (Even the Soviet Union was never really an economic peer.)
Read More →
The Washington Post Subscription
President Trump’s “phase one” trade deal with China is largely a victory for Beijing. Just measure the agreement signed this week against the initial demands made by Washington in a leaked May 2018 document. As the Financial Times concludes, with regard to the central U.S. goals, “After almost two years of negotiations, tariffs and counter-tariffs, Mr. Trump has achieved none of these objectives.”
This outcome is partly a reflection of the two sides’ staying power. China is a one-party state that can take the long view. Trump gambled that he could hurt the Chinese economy enough with tariffs that the pain to American consumers — who have paid for those tariffs — would be worth it. But the president apparently decided that he wanted to smooth the economic waters as he runs for reelection. So he folded.
From a broader perspective, however, this trade deal reflects something new on the international landscape, something the United States is going to have to grapple with for decades. As I argue in Foreign Affairs, China is the first real peer competitor that the United States has faced in the modern era. (Even the Soviet Union was never really an economic peer.)
Read More →
By Fareed Zakaria | 16 Jan 2020
RELATED TOPICS:
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
Sports /
2 hours ago
The Many Names of GOP Vice Presidential Nominee JD Vance
Latest /
2 hours ago
Companies Cut Prices to Boost Sales, Consumers Respond
Business /
2 hours ago
Warner Bros. Discovery Sues NBA for Not Accepting Its Matching Offer
Sports /
3 hours ago
Will Bonta Election Lawsuit Reverse the Will of Fresno County Voters?
Politics /
3 hours ago
Opening Ceremony Floats Down Seine as Paris Investigates Rail Sabotage
Sports /
4 hours ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
Gage Mason, 20, of Fresno, was sentenced to 29 years in state prison on Friday for sexually assaulting multiple children and a dog, the Fres...
Crime /
21 mins ago
Categories
Latest
Videos
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26170645/Gage-Mason-20-was-sentenced-to-29-years-in-state-prison-for-sexually-assaulting-multiple-children-and-a-dog-and-will-also-be-required-to-register-as-a-sex-offender-1024x538.jpg)
Crime /
21 mins ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26161707/Tommy-Hopfe-with-the-Colorado-Rockies_1280X720-1024x576.jpg)
Sports /
31 mins ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26145457/image-2024-07-26T145350.189-1024x576.jpeg)
Sports /
2 hours ago
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26154603/Republican-vice-presidential-candidate-Sen.-JD-Vance-R-Ohio-speaks-at-a-campaign-rally-July-22-2024-in-Radford-Va.-Vance-introduced-himself-to-the-world-in-2016-when-he-published-his-bestse-1024x538.jpg)
Latest /
2 hours ago
The Many Names of GOP Vice Presidential Nominee JD Vance
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26144020/shutterstock_2167128821-1024x576.jpg)
Business /
2 hours ago