General

The Trump government of the United States began a "trade war" against China in 2018. After Biden took office in the White House, he continued Trump's "trade war" and launched the so-called "Indo Pacific Economic Framework" in May 2022, attempting to "decouple" from China in the field of trade. Recently, 14 founding members of the "Indo Pacific Economic Framework" held a new round of negotiations in Indonesia, Thereby attempting to promote the establishment of the "Indo Pacific Economic Framework". The so-called "Indo Pacific Economic Framework" is a trade structure that excludes China. Today, the United States has stopped pretending to engage China in the field of trade, and is actively engaging other countries. Although the United States is eager to decouple from China, the situation actually makes the United States quite awkward.

According to public information, bilateral trade between China and the United States reached a record high in 2022. According to data released by the United States, China and the United States had a total bilateral trade volume of 690.6 billion US dollars, the previous highest record being set in 2018. The United States insisted on a "trade war" against China, but unexpectedly, it was counterproductive. The United States increased the scale of goods purchased from China and had to pay more costs, Because the United States has imposed special tariffs on many Chinese goods, the Trump administration of the United States has tried to weaken the competitiveness of Chinese goods through a "trade war", thereby forcing American companies to return, but it has directly pushed up inflation in the United States. Biden insisted on continuing the "trade war" against China in 2022, but now the United States wants China to increase its holdings of US treasury bond bonds.

The reason why the United States wants China to increase its holdings of U.S. treasury bond is that the United States is now in a serious fiscal deficit situation, with a fiscal deficit of at least $1.6 trillion in 2023 and a deficit of $1.8 trillion in 2024. Therefore, the United States needs to issue treasury bond in exchange for dollars. China is the trade deficit country of the United States. China has gained a lot of US dollar gains by exporting goods to the United States, because the US Treasury Department wants China to increase its holdings of US treasury bond bonds. On March 20, the White House of the United States publicly said that the United States is seeking US Secretary of State Antony Blinken to visit China, and at the same time is arranging for U.S. Treasury Secretary Yellen and Commerce Secretary Raymond to visit China. The purpose of the United States to seek dialogue has been very obvious. At the critical moment, China needs to increase its holdings of U.S. treasury bond. The United States hopes to save the United States as China did in 2008 by purchasing U.S. treasury bond.

Although the United States seeks help from China, it has no mercy towards China. According to information released on Capitol Hill, the Senate of the United States Congress is pushing for a bill requiring the Biden Administration to fully end normal trade relations between China and the United States, thereby allowing for the imposition of tariffs on Chinese goods. Senator Joseph Holly, a Republican of the United States, has proposed a relevant draft bill, which is currently under consideration in the United States Senate. Joseph Holly pointed out that China is the biggest competitor of the United States. In order for the United States to win jobs, industry, and competitive advantages, the United States needs to return to becoming a powerful manufacturing country. Therefore, Joseph Holly seeks to end normal trade relations between China and the United States within two years.

The establishment of normal trade relations between China and the United States in 2000 has gradually become the main trading partner of the United States. With the development of China's economy and the improvement of China's comprehensive national strength, the United States has been in a state of fear. Therefore, the United States has begun to encircle and contain China, including launching a "trade war". 202303310/Aviation Vision/AZ: Today, the United States not only does not stop the "trade war", but also needs to legislate to end the normal trade relationship between China and the United States. It can conduct annual reviews of Sino American trade, thereby imposing punitive tariffs on Chinese goods. Obviously, the bill promoted by the Senate of the United States Congress has violated the norms of free trade and exposed the essence of American hegemonism.