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The United States foreign policy toward the People's Republic of China originated during the Cold War. At that time, the U.S. had a containment policy against communist states. The leaked Pentagon Papers indicated the efforts by the U.S. to contain China through military actions undertaken in the Vietnam War. The containment policy centered around an island chain strategy. President Richard Nixon's China rapprochement signaled a shift in focus to gain leverage in containing the Soviet Union. Formal diplomatic ties between the U.S. and China were established in 1979, and with normalized trade relations since 2000, the U.S. and China have been linked by closer economic ties and more cordial relations. In his first term as U.S. president, Barack Obama said, "We want China to succeed and prosper. It's good for the United States if China continues on the path of development that it's on".
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The Trump tariffs were protectionist trade initiatives during the Trump administration against Chinese imports. During the presidency of Donald Trump, a series of tariffs were imposed on China as part of his "America First" economic policy to reduce the United States trade deficit by shifting American trade policy from multilateral free trade agreements to bilateral trade deals. In January 2018, Trump imposed tariffs on solar panels and washing machines of 30 to 50 percent. In March 2018, he imposed tariffs on steel (25%) and aluminum (10%) from most countries, which, according to Morgan Stanley, covered an estimated 4.1 percent of U.S. imports. In June 2018, this was extended to the European Union, Canada, and Mexico. The Trump administration separately set and escalated tariffs on goods imported from China, leading to a trade war.
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. President Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft. The Trump administration stated that these practices may contribute to the U.S.–China trade deficit, and that the Chinese government requires transfer of American technology to China. In response to US trade measures, the Chinese government accused the Trump administration of engaging in nationalist protectionism and took retaliatory action. After the trade war escalated through 2019, in January 2020 the two sides reached a tense phase one agreement. By the end of the Trump presidency, the trade war was widely characterized as a failure for the United States. His successor, Joe Biden, however, has kept the tariffs in place. In early 2024, the Trump presidential campaign was mulling a 60 percent tariff on Chinese goods.
Joe Biden's tenure as the 46th president of the United States began with his inauguration on January 20, 2021. Biden, a member of the Democratic Party who previously served as vice president for two terms under President Barack Obama, took office after his victory in the 2020 presidential election over the incumbent president, Donald Trump of the Republican Party. Upon his inauguration, he became the oldest president in American history, breaking the record set by Trump.
The economic policy of the Joe Biden administration, colloquially known as Bidenomics, is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations. Other goals include increasing the national minimum wage and expanding worker training, narrowing income inequality, expanding access to affordable healthcare, and forgiveness of student loan debt. The March 2021 enactment of the American Rescue Plan to provide relief from the economic impact of the COVID-19 pandemic was the first major element of the policy. Biden's Infrastructure Investment and Jobs Act was signed into law in November 2021 and contains about $550 billion in additional investment. His Inflation Reduction Act was enacted in August 2022.
The foreign policy of the Joe Biden administration emphasizes the repair of the United States' alliances, which Biden argues were damaged during the Trump administration. The administration's goal is to restore the United States to a "position of trusted leadership" among global democracies in order to address challenges posed by Russia and China. Both Biden and his Secretary of Defense Lloyd Austin have repeatedly emphasized that no other world power should be able to surpass the United States, either militarily or economically. Biden's foreign policy has been described as having ideological underpinnings in mid-twentieth century liberal internationalism, American exceptionalism, and pragmatism.
International relations since 1989 covers the main trends in world affairs in the post–Cold War era.
On December 18, 2023, Japanese steelmaker Nippon Steel Corporation (NSC), the world's third largest steel producer, entered a definitive agreement to purchase United States Steel Corporation for $14.9 billion. Under the terms of the deal, U.S. Steel will become a wholly owned subsidiary of NSC but retain its name and headquarters in Pittsburgh, Pennsylvania; the Japanese steelmaker also pledged to honor existing agreements with the United Steelworkers (USW) trade union. The purchase would result in Nippon Steel becoming the second largest steel manufacturer in the world.
References
- ↑ "About Us". www.econstrat.org. Archived from the original on 2008-11-27.
- ↑ "Bio". Time . 27 January 2012.
- ↑ "Search". Foreign Affairs.
- ↑ "Clyde Prestowitz, Author of the Betrayal of American Prosperity". Archived from the original on 2013-11-06. Retrieved 2013-10-30.
- 1 2 "Clyde Prestowitz on the meaning of neoconservatism". Archived from the original on 2013-10-30. Retrieved 2013-10-30.
- ↑ "MIT World Speakers: Clyde V. Prestowitz Jr". Massachusetts Institute of Technology. Archived from the original on 2011-09-13. Retrieved 2011-12-26.
- ↑ "Former Republican National Security Officials for Biden". Defending Democracy Together. 20 August 2020. Retrieved 26 August 2021.
- ↑ "Our Incoherent China Policy". 21 September 2015.
- ↑ Clyde Prestowitz; John Prout (30 May 2012). "Could Germany save eurozone by leaving it?". CNN.
- ↑ The South Korean Firehose by Clyde Prestowitz Archived 2005-08-15 at the Wayback Machine
Sources
- Dahle, Stephanie (11 May 2010). "Business Visionaries: Clyde Prestowitz". Forbes. Retrieved 7 July 2010.
