President Trump has recently imposed import tariffs on many Chinese goods and China hit back with an increase in tariffs on US products. At the G20 summit on 29 June, both countries agreed to resume their trade negotiations in an attempt to end this trade war. MSc student Xi Wang hopes the talks will be successful. ‘I am highly concerned.’
‘As a Chinese student studying abroad, the trade war is rather far away from my life. The case I felt more closely related to was when the US government accused Huawei of espionage. They imposed restrictions, after which some of my friends were not able to access websites like Google and Gmail with their Huawei phone. This greatly influenced their daily life.
To me, it seems like the US believes that China has become a considerable competitor on the global market, causing the biggest part of the US trade deficit. At the same time, China holds the 5G technology which might monopolize the future wireless technology field and can pose a threat to their national security. In order to minimize the trade deficit, raising tariffs can be the most direct and effective solution.
I am highly concerned, because in the end the citizens of both countries will pay the price. My parents tell me that the prices are continuously rising in China. I assume this also happens in the US. In China, the prices of food products and housing have increased the most dramatically. These are people’s basic needs! Besides this, the value of the Chinese currency is also fluctuating, which influences everyone who is living or studying abroad. I believe that the danger of a long-lasting trade war with the United States is enormous. I really hope both countries can have a proper talk to end this drama soon and stop harming people.