• By The Financial District

TRUMP WANTS TO SLASH TRADE TIES WITH CHINA

US President Donald Trump on Monday (Tuesday, September 8, 2020 in Manila) reiterated threats by his administration to decouple the US and Chinese economies, pledging to reward companies that move their operations out of China and raising the possibility of halting business with the country altogether.

“We will make America into the manufacturing superpower of the world and will end our reliance on China once and for all,” Trump told reporters. “Whether it’s decoupling, or putting in massive tariffs like I’ve been doing already, we will end our reliance in China, because we can’t rely on China,” Owen Churchill wrote for the South China Morning Post (SCMP), which is owned by Chinese billionaire Jack Ma, who is also a member of the Communist Party of China (CPC).


Yet, it was the US that used China as a sweatshop and manufacturing base to earn superprofits, and corporate America was to blame for moving their supply chain  to China and slashing 25% of US jobs. Trump’s own enterprises are dependent on Beijing’s products.


“When you mention the word ‘decouple,’ it’s an interesting word,” Trump said, stopping short of explicitly committing to a full termination of economic relations with China. “We lose billions of dollars and if we didn’t do business with them we wouldn’t lose billions of dollars. It’s called decoupling, so you’ll start thinking about it.”



The Financial District would like to learn more from its audience. Can you please give us feedback on this article you just read. Click Here to participate in our online survey.