In an Aug. 7 editorial, titled “Plummet in Trade with China A Shame for U.S. Politicians,” Global Times points out that the U.S. is deliberately and arrogantly cutting its trade imports from China, whose principal effect will be to damage, rather than develop, the U.S. economy.
Global Times reports that “data from the US Census Bureau showed that US imports from China in the first five months of this year decreased 24 percent from the same period last year.” Further, the Washington Post reported Aug. 6, that Mexico became the US’s top trading partner.
The drop in US imports from China is largely due to the impact of the additional tariffs and Section 301 tariffs the US imposed in its trade war with China, which have driven up costs and put growing pressure on producers and suppliers on both sides.
The U.S. responsibles appear to harbor a deep illusion that the U.S. can get the same quality of goods from Mexico as it does from China, or that it can offset and compensate for loss of Chinese goods through the productive capacity of the U.S. economy, which has been shrinking. Indeed, it is British ideology that shoveled the U.S. into this direction.
