Trump Should Take Advantage of Frustrations With China Trade Policy

The U.S. isn’t alone in its frustration with Chinese trade policy, and the Trump administration should take advantage of that, former U.S. trade officials told CNBC on Thursday after the U.S. imposed new tariffs on $16 billion worth of Chinese imports.

“I think the Chinese underestimated how frustrated and serious, not only the United States, but the entire global community, is with their practices that they need to change,” Bruce Andrews, former U.S. deputy secretary of Commerce under President Obama, said on CNBC’s “Squawk Alley.”

From forcing foreign companies to enter into local joint ventures with Chinese companies to discriminatory subsidies and requiring foreign business to subject intellectual property to government checks, China’s trade policies have burdened more than just the United States. Although the U.S. shares many of its grievances with its allies in the World Trade Organization, President Donald Trump has used almost every other weapon in his arsenal, said Benn Steil, author and Council on Foreign Relations director of economics.


Aussie rallies as new prime minister picked

USD/JPY – Japanese yen dips, inflation reports next

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.