Trump, however, has not given up on securing a trade deal with China. He says the agreement will be signed in the United States. According to articles in Politifact, most traditional economists have said that “consumers are the main victims of tariffs”[306] and most economists have said they bear “more risks than benefits.” [314] Almost all economists who responded to the Associated Press and Reuters polls said that Trump`s tariffs would do more harm than good to the U.S. economy,[7] and some economists have argued in favor of alternative ways for the United States to address its trade deficit with China. [5] [8] [9] [10] [11] Peter Navarro, director of the White House Office of Trade and Manufacturing Policy, said tariffs were “purely defensive measures” to reduce the trade deficit. [56] It says that the cumulative billions of dollars that Americans transfer abroad as a result of annual deficits are then used by these countries to buy U.S. assets, unlike the investment of that money in the United States. these billions of dollars are in the hands of foreigners who can then use them to buy America. [57] At the international level, the ultimate goal of the Trump administration`s trade war is to change China`s trade policy, while tariff enforcement and the negative economic effects of the trade war have also been criticized. Among U.S. industries, U.S. companies and agribusinesses opposed the trade war, although most farmers continued to support Trump. Some U.S. politicians disagree with Trump`s tactics, but most agree with the goal of putting pressure on China.
[20] At the end of November 2019, none of the leading Democratic presidential candidates said he would eliminate tariffs, including Joe Biden and Elizabeth Warren, both of whom agreed that the United States must deal with what it sees as China`s unfair trade policy. [21] China`s Ministry of Commerce refused to back down and said it was keeping “its promises.” At the 45th G7, British Prime Minister Boris Johnson said: “We don`t like tariffs overall.” [336] An ABC article reported that U.S. allies warned Trump of his trade war with China during the summit, but that Trump said he was not under pressure from his allies because of the trade war. [336] European Council President Donald Tusk has said that the trade war could be a global recession. [337] A few hours before President Donald Trump`s deadline to increase tariffs on the country`s products, a spokesman for China`s Ministry of Commerce rejected U.S. claims that previous agreements between Beijing negotiators had been reached during trade negotiations. The comments came when Beijing said the U.S. would increase tariffs on Chinese products with “necessary counter-measures.” Read more: Trump`s top negotiator confirms that Chinese tariffs will rise on Friday, with Beijing accused of backing down in trade deal. Such a scenario would seriously damage the political capital it has built up in recent weeks. The mayors of Davenport and Saint-Gabriel, who represented cities heavily dependent on agriculture, expressed their fear that the trade war would have on their cities. [286] Beijing has called these goals unrealistic.Chinese negotiators are believed to have proposed reducing U.S. agricultural imports to the $20 billion mark as much as before the trade war.