With the U.S. election approaching, President Donald Trump on Monday
again raised the idea of separating the U.S. and Chinese economies, also
known as decoupling, suggesting the United States would not lose money
if the world’s two biggest economies no longer did business.To get more
China economy news, you can visit shine news official website.
“So
when you mention the word decouple, it’s an interesting word,” Trump
told a Labor Day news conference at the White House in which he vowed to
bring jobs back to America from China.
“We lose billions of
dollars and if we didn’t do business with them we wouldn’t lose billions
of dollars. It’s called decoupling, so you’ll start thinking about it,”
Trump said.
Trump, who long touted friendly ties with Chinese
President Xi Jinping as he sought to make good on promises to rebalance a
massive trade deficit, has made getting tough on China a key part of
his campaign for re-election on Nov. 3. He has accused his Democratic
opponent, Joe Biden, who leads in most opinion polls, of being soft
toward Beijing.
“If Biden wins, China wins, because China will own this country,” he said.
Biden
for his part has criticized Trump’s Phase 1 trade deal with China,
saying it is “unenforceable,” and “full of vague, weak, and recycled
commitments from Beijing.”
Trump vowed that in future his
administration would prohibit federal contracts with companies that
outsource to China and hold Beijing accountable for allowing the
coronavirus, which began in China, to spread around the world.
“We
will make America into the manufacturing superpower of the world and
will end our reliance on China once and for all.Whether it’s decoupling,
or putting in massive tariffs like I’ve been doing already, we will end
our reliance in China, because we can’t rely on China,” Trump said.
“We
will bring jobs back from China to the United States and we will impose
tariffs on companies that desert America to create jobs in China and
other countries,” he added.
U.S. Treasury Secretary Steven
Mnuchin said in June that a decoupling of the U.S. and Chinese economies
would result if U.S. companies were not allowed to compete on a fair
and level basis in China’s economy.
Other officials and analysts
have said that the two countries’ economies are so intertwined as to
make such a move impractical, but Washington would continue to pressure
Beijing to level the playing field.
The Wall