09-17-2018, 01:26 PM
President Donald Trump named the European Union, Russia and China as foes to the United States during an interview at his golf club in Scotland. "I think we have a lot of foes," Trump told CBS News in an interview segment that aired Sunday on "Face the Nation." "I think the European Union is a foe, what they do to us in trade. Now you wouldn't think of the European Union, but they're a foe." The President added that "Russia is a foe in certain respects. China is a foe economically, certainly they are a foe. But that doesn't mean they're bad. It doesn't mean anything. It means that they are competitive. They want to do well and we want to do well."
Trump calls the European Union a 'foe' of the United States - CNNPolitics
China will be watching the midterm elections very closely, as a win for the Democrats would potentially weaken the president’s hand domestically. Despite mounting political pressure to end the trade war, favorable economic conditions still put the United States in a strong position. President Trump tweeted that “our markets are surging”, alluding to record employment numbers, higher wages, and the U.S. economy surging at 4.1% in the second quarter. Yet experts caution that this soon will change, as the impact of additional tariffs would reverse economic tailwind created by the combination of more government spending and the hefty tax cuts.
China’s gains have benefited the U.S. as well. According to Oxford Economics, U.S.-China trade helps each American family save $850 every year. Between 2001 and 2016, U.S. commodities exports to China expanded five times, much higher than the 90 percent average increase. The advent of the “internet of things” and rapid growth in the number of China’s middle- and upper-class consumers will offer even more opportunities for U.S. companies. China is not only an integral part of the global economy, but also an indispensable source of growth. Any attempt to “decouple” it from the U.S. or the global economy will hurt all countries, including the U.S.
China Sees That U.S. Trade Will Benefit Both Countries - Bloomberg
Some requests raised by U.S. companies, such as increased market access, dovetail with recommendations from China’s leaders. The government is, in fact, opening up: Eight out of the 11 market-opening measures announced by President Xi Jinping in April have been put in place, covering banking, securities, insurance, credit rating, credit investigation and payment, and so on. The government is also working harder to improve the business environment and strengthen intellectual property protections for both Chinese and foreign enterprises. Chinese reformers can turn outside pressure to their advantage, using it to bust through internal resistance to necessary changes.
China Sees That U.S. Trade Will Benefit Both Countries - Bloomberg