Trade Imbalances: China and Chinese Goods

trade imbalances: It has become increasingly clear that the US wants to exert extreme pressure on China with its own advantages in the economy, finance, science and technology, and its goal is not simply to resolve bilateral trade imbalances, but to contain China as its long-term strategic rival, according to Global Times China. The China-US trade conflict is part of the strategic competition between the two countries and a change in the long-term strategic environment that China must face. In response to the increased US tariffs on 200 billion worth of Chinese goods, China announced it would impose tariffs of between 5 percent and 25 percent on 60 billion worth of US goods starting June 1. There is no chance of a once and for all solution to the situation. In the economic and trade field, China will have to fight back against US unilateralism while remaining open to other countries. Against the background of the new US trade barriers and global competition, China needs to consider systematic countermeasures to US pressure from the perspective of overall economic and social development. (news.financializer.com). As reported in the news.