Donald Trump Tariff Plan: China is challenging America's supremacy in every field. It is not completely correct to say this. Rather, it would not be wrong to say that China has captured America in its jaws. Actually, America may be called Uncle Sam of the world but that America is no longer America. The world has changed a lot in the last three and a half decades. The world after the Cold War is completely different. China has become the center of America's staunchest opponents. Not only this, he has completely tightened his grip on America. To get out of that noose, no one, whether America's elected President Donald Trump or anyone else, will be able to do much except fluttering around. In fact, China has directly challenged America's supremacy not only in military power but also in the economic field. According to statistics, last year there was a trade of 575 billion dollars between China and America. This trade is completely one-sided. Out of this, China exported $501 billion to America while China imported only $74 billion from America. Emotional issue: President-elect Donald Trump is irritated by this imbalance in trade. He is talking about following the policy of America First. But, this thing is more emotional. The reality is that he cannot be very aggressive against China even if he wants to. However, on this emotional issue he has again got a resounding victory in America. According to a report in USA Today, the most important thing is that it sounds good to say that America will impose a tariff of more than 100 percent on Chinese products. This will make Chinese goods expensive and they will no longer be dumped in the American market. But, do you know that the American people, who are suffering from inflation due to Israel-Hamas and Russia-Ukraine war, will be happy with this step of Trump? Donald Trump criticizes China in the most vocal way. There was no effect of increasing the tariff. According to the report, Donald Trump significantly increased the tariff on solar panels, washing machines and many other things in his first term. Then Joe Biden's government came and while maintaining these decisions of Trump, it also increased the tariff rates on many other things. Now Trump is saying that as soon as he assumes power, he will increase the tariff rate on Chinese products from 60 percent to 100 percent. Besides, the duty on imports from other countries will also be increased to 20 percent. He believes that doing this will provide relief to American manufacturers and production in America will increase. Employment will increase. World's economists worriedBut, world's economists are worried about this decision of Trump. This will lead to huge inflation in America. This will increase the costs of the companies and ultimately the entire burden will fall on the consumers. An organization, The Peterson Institute for international economics, says that if Trump does this, it will cost an average American family 2600 US dollars (2.20 lakh rupees) every year. In this way, the total burden on American consumers will be 46 to 78 billion dollars. In this report this has been explained with an example. By increasing the tariff, the price of a $50 pair of sports shoes will become $64. The price of a mattress box will increase from $2000 to around $2200. This is the reason why there has been a debate among American economists regarding Donald Trump's proposal. No one is able to understand how to get rid of cheap Chinese goods. If the tariff is increased then people will travel directly. Tags: Donald Trump, US China, Xi jinpingFIRST PUBLISHED : November 22, 2024, 10:53 IST
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