The US is preparing to impose new sanctions on China. The administration of the current president of the country is considering such a possibility Donald Trump , writes The Wall Street Journal citing the source.
A new blow to the economy of the PRC can be delivered through the creation of an informal alliance of Western countries. It will be aimed at jointly resisting economic pressure from Beijing. “China is trying to force countries to comply with blatant economic pressure. The West needs to create a system to offset the costs,” an unnamed senior official told the publication.
According to the plan, if the PRC prohibits imports from one country, then others buy its goods or compensate for the losses. The US also proposes to introduce increased duties on Chinese goods. In addition, the Trump administration wants to expand the list of products prohibited from import from the Xinjiang region and impose sanctions on the Chinese chip maker Semiconductor Manufacturing International Corp.
The trade war between the United States and China began at the end of 2017 with the imposition of duties on some Chinese goods. In January this year, the countries entered into the first phase of the deal. It provided for increased purchases of American goods by China, mainly agricultural. However, the plan was thwarted by a decline in global demand amid the crisis. The US has also blamed China for the spread of the coronavirus.
Experts note that Trump failed to achieve his main goal in trading war with China – the growth of industrial production. American importers simply switched to cheaper goods from Vietnam, Mexico and other countries.