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The trade war is a frequent topic on Chinese social media, with a popular internet meme that references Thanos, a villain from Marvel Comics and the Marvel Cinematic Universe who, along with the Infinity Gauntlet, wipes out half of all life in the universe and jokes that Trump will similarly annihilate half of Chinese investors. [266] [267] 2. On July 6, 2018, the Trump administration imposed its first tariffs on $34 billion of Chinese goods. At the same time, China retaliated. The two countries imposed tariffs until September 2019 on a total of more than $450 billion in bilateral trade. The January 2020 agreement applies to U.S. exports of goods and services. In the absence of detailed data on high-frequency trading for services, these bonds are not valued here. U.S. officials say they will push China to limit its use of subsidies in the next round of negotiations. The United States is also cooperating with the European Union and Japan to tackle Chinese subsidies in the World Trade Organization. The Government announced that it would address some of these changes during Phase 2 of the negotiations and that it would partially retain the tariffs in order to maintain the leverage of the next roundtable. Trump said he would remove all tariffs if the two sides reach an agreement on the next phase.

The Chinese government argues that the real goal of the US administration is to stifle Chinese growth and that the trade war has had a negative impact on the world. [58] [59] The Chinese government held the U.S. government responsible for the start of the conflict and said that U.S. action made negotiations more difficult. [59] Zhang Xiangchen, China`s ambassador to the World Trade Organization, said the U.S. Trade Representative operates with a “presumption of guilt” and made claims without evidence and on the basis of speculation. [60] The US and China need to renegotiate important policies that are not affected by the Phase 1 agreement. Trump`s trade war has failed to address what was really shaking the U.S.-China trade relationship. It is time for a new approach.

From the beginning, an additional $200 billion in additional sales to China was a worrying target. Nearly 30 percent of U.S. merchandise exports to China are not even covered by the Phase One Agreement. . . .