President Trump once again raised the idea of separating the US economy from China
President Trump on Monday reiterated the idea of separating the US economy from China and said that the US would not suffer if the two economies no longer do business.
“So when you mention detachment, that’s an interesting word,” Trump said at a Labor Day (September 7) press conference at the White House.
“We’ve lost billions of dollars and if we don’t do business with them, we won’t lose anything. It’s called detachment, so you’ll start thinking about it, ”Trump said.
In addition, Mr. Trump also accused Democratic presidential candidate Joe Biden of being soft with Beijing.
“If Biden wins the election, China will win because China will take possession of our country,” Trump said.
On the Biden side, he also criticized Mr. Trump’s Phase 1 trade deal with China and said it was “unenforceable” and “full of vague, weak and recyclable commitments from Beijing”.
Trump vowed in the future that his administration would ban federal contracts with companies outsourcing China and hold Beijing accountable for making Covid-19 spread around the world.
“We will make America the world’s manufacturing superpower and end dependence on Beijing once and for all. Whether it’s economic decoupling or imposing tariffs like I did, we will end our dependence on China because we cannot rely on it, ”Trump said.
“We will bring jobs from China back to the US and we will impose taxes on companies that give up the US to create jobs in China and other countries,” Trump added.
US Treasury Secretary Steven Mnuchin said in June that the US and Chinese economies would be separate if American companies were not allowed to compete on the basis of equality and fairness in the Chinese economy. .
Other officials and analysts say the US and Chinese economies are so cohesive that a move could not be practically disengaged, but Washington will continue to pressure Beijing to leveling the playing field.