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Before Trump took office, American companies have lost 130 billion, and export controls to China should be relaxed

Before Trump took office, he was faced with a dilemma: should export controls against China continue when United States economic interests have been profoundly affected?

A recent report released by a subsidiary of the Federal Reserve Board pointed out that the export control measures taken by those United States against China based on "safeguarding the security of domestic enterprises" have not only failed to improve the competitiveness of United States enterprises, but have also had a negative impact.

According to the New York Fed estimates, in recent years, due to a series of export control measures taken by the United States government against China, American companies have lost a market value of up to $130 billion.

Before Trump took office, American companies have lost 130 billion, and export controls to China should be relaxed

New York Stock Exchange

What is even more unacceptable to United States is that after American companies have paid such a heavy price, Chinese companies have improved their competitiveness by strengthening their own research and development capabilities and finding new suppliers, successfully offsetting the negative impact of US restrictions on China.

Facts have proved that the United States' practice of completely bypassing China and engaging in "decoupling and breaking the chain" in the economic and trade fields will not work. As one of the two major economies in the world today, China and the United States have extensive common interests. And because of China's important position in the global manufacturing field, the more restrictions United States imposes on China, the greater the backlash against United States

It took Trump four years to prove that the stick of "tariffs" cannot scare China; Biden has spent nearly four more years proving that the "technology blockade" cannot stop China's technological progress.

Before Trump took office, American companies have lost 130 billion, and export controls to China should be relaxed

United States President Biden

And now, as Trump seeks to return to the White House, shouting the slogan "Make United States Great Again" and promising to solve United States' economic problems, the same mistake should not be made a second time.

However, this is just an optimistic expectation that we have made with normal thinking, and United States the current political atmosphere, based on the hostile attitude towards China, has politicized and weaponized economic and trade issues, so if Trump comes to power in the future, it is difficult to say United States whether the new administration's attitude towards China will change.

After all, until now, the Biden administration is less than 6 months away from leaving office, and it is still making various arrangements against China, while at the diplomatic level, Secretary of State Blinken is sent to visit Asian countries to persuade allies not to relax in the matter of "encirclement of China"; On the other hand, it is making small moves at the economic and trade level.

Before Trump took office, American companies have lost 130 billion, and export controls to China should be relaxed

United States Secretary of State Antony Blinken

For example, after announcing a 100% tariff on Chinese electric vehicles, the United States is brewing further moves in the automotive field. The United States Commerce Department is expected to propose in the coming days a ban on the use of Chinese software in self-driving and connected cars, citing what it calls "national security," sources said.

United States' move is obviously self-defeating, and it should be emphasized that such repressive measures against China's technology sector are causing more and more negative effects on American companies. Huang Jenxun, CEO of United States chip giant Nvidia, has stressed more than once that United States' restrictions on China in the chip field are bringing great damage to the country's technology industry.

The Biden administration's trade measures against China in the past four years have set up one "technological barrier" after another between China and the United States, locking up the investment space of United States enterprises in China and hindering normal scientific and technological exchanges between China and the United States, which in turn has promoted the determination of Chinese enterprises to pursue scientific and technological progress and seek self-reliance.

Before Trump took office, American companies have lost 130 billion, and export controls to China should be relaxed

United States former President Trump

If Trump returns to the White House and faces a China that has gradually become "immune" to China's export control measures, he is afraid that he will do it again.