Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Fears Arise As Biden’s Tariff Hike Intensifies U.S.-China Disputes

Daniel Kim Views  

Source: Samsung Securities

On the 22nd, Samsung Securities analyzed the possibility of the U.S.-China dispute, which has resurfaced as a hot topic in the financial market and is likely to intensify. President Joe Biden recently announced plans to raise tariffs on Chinese steel and aluminum from 7.5% to 25%. The U.S. Trade Representative Katherine Tai revealed that they are investigating China’s unfair maritime, logistics, and shipbuilding trade practices.

Jeon Jong Kyu, a researcher at Samsung Securities, said, “As the U.S. election campaign heats up, both the Biden administration and the Trump Republican candidate camp are strengthening their policies to keep China in check, which could further worsen the U.S.-China conflict.” He predicted, “Regardless of the election results, the U.S.’s policy of containing China is expected to remain firm.”

He added, “Both the U.S. Democratic and Republican parties are recording the highest level of anti-China sentiment among Americans and define China as a ‘systemic competitor.’ This year, the U.S.-China conflict is expected to increase uncertainty in economic territories (high tariffs, advanced manufacturing). From a mid-term perspective, geopolitical risks (Hong Kong, Taiwan, and the South China Sea) and tensions in the global supply chain restructuring process are expected to rise.”

Jeon stated, “As the U.S. takes steps to contain China’s current (high tariff) and future (advanced technology) trade, the global supply chain is being shaken. The changes observed through China’s export and import countries and items strengthen emerging economic blocks, △intensify competition in advanced manufacturing, △and expand the supply surplus structure.”

He continued, “The trade dispute (2018) and the COVID-19 pandemic (2020) have acted as catalysts for restructuring the trade structure. China’s exports to developed countries fell from 51.6% in 2010 to 41.1% last year, while exports to emerging countries (ASEAN, BRICs, Middle East, Africa, and South America) surged from 27.6% to 41.3%.”

Jeon concluded, “A fierce battle is ongoing in the advanced manufacturing sector, represented by semiconductors. China is trying to break through the U.S.’s core technology alliance (alignment) by pursuing expansionist foreign policies (Middle East, Africa, ASEAN, Europe, and South America) and strengthening market liberalization and economic cooperation while investing massive human resources and capital into advanced technology sectors. A fierce battle in the advanced manufacturing sector is inevitable even after the U.S. election.”

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[ASIA] Latest Stories

  • Biden Administration Escalates Trade War with New China Tariffs
  • Climate Change? Unseasonal Snowfall Hits South Korea's Mountain Regions
  • Inside the U.S.-South Korea Military Training in Mojave Desert
  • Kim Jong Un Gears Up for Putin: North Korea Boosts Arms Sales
  • Urgent Call for Justice: South Korean President Urged to Enact Special Prosecutor Law
  • From Prayers to Pepper Spray: Elderly Man Attacks Monk in Bizarre Assault

Weekly Best Articles

  • 10 Surprising Laws That Could Get You Arrested Abroad
  • New mRNA Cancer Vaccine: A Beacon of Hope for Brain Tumor Patients
  • Why Do We Feel Moody at Night? 10 Important Role of Serotonin
  • 10 Hidden Role of Pillows in a Good Night’s Sleep
  • Double Trouble: Two APOE4 Genes Escalate Alzheimer’s Onset
  • Are Men with High Testosterone More Prone to Heart Disease?
  • Ugly Truth About Using Hand Cream as a Face Moisturizer
  • New Research Unlocks Genetic Puzzles of Hypertension
  • Scotland Offers $63,000 to Live on Stunning Islands – Here’s Why
  • Get Ripped in Record Time: The Truth About Muscle Building
  • The Secret to Maintaining Muscle Strength May Be in Your Biological Clock
  • Tourists Turned Off by Rising Costs of Hawaii’s Vacation Rentals

You May Also Like

  • 1
    Tourists Turned Off by Rising Costs of Hawaii's Vacation Rentals

    LIFESTYLE 

  • 2
    Blast Off to China: Rise of Space Tourism in Hainan

    LIFESTYLE 

  • 3
    Beat the Heat: How to Prepare Abalone Samgyetang for a Healthy Summer

    LIFESTYLE 

  • 4
    10 Ear Diseases You Should Never Ignore

    LIFESTYLE 

  • 5
    How Anxiety Spreads Like Wildfire After Trauma

    LIFESTYLE 

Popular Now

  • 1
    New York 2027: City Transformed by Cannabis and Autonomous Cars

    LIFESTYLE 

  • 2
    Uber Conquers Africa: 1 Billion Rides and 10 Billion Kilometers

    LIFESTYLE 

  • 3
    New Research Suggests Dietary Shifts Can Help Combat Pulmonary Hypertension

    LATEST 

  • 4
    Olive Oil Proven to Reduce Dementia-Related Deaths

    LIFESTYLE 

  • 5
    Queen Elizabeth II’s Travel Legacy: Iconic Stays at World’s Finest Hotels

    LIFESTYLE 

Weekly Best Articles

  • 10 Surprising Laws That Could Get You Arrested Abroad
  • New mRNA Cancer Vaccine: A Beacon of Hope for Brain Tumor Patients
  • Why Do We Feel Moody at Night? 10 Important Role of Serotonin
  • 10 Hidden Role of Pillows in a Good Night’s Sleep
  • Double Trouble: Two APOE4 Genes Escalate Alzheimer’s Onset
  • Are Men with High Testosterone More Prone to Heart Disease?
  • Ugly Truth About Using Hand Cream as a Face Moisturizer
  • New Research Unlocks Genetic Puzzles of Hypertension
  • Scotland Offers $63,000 to Live on Stunning Islands – Here’s Why
  • Get Ripped in Record Time: The Truth About Muscle Building
  • The Secret to Maintaining Muscle Strength May Be in Your Biological Clock
  • Tourists Turned Off by Rising Costs of Hawaii’s Vacation Rentals

Must-Reads

  • 1
    Tourists Turned Off by Rising Costs of Hawaii's Vacation Rentals

    LIFESTYLE 

  • 2
    Blast Off to China: Rise of Space Tourism in Hainan

    LIFESTYLE 

  • 3
    Beat the Heat: How to Prepare Abalone Samgyetang for a Healthy Summer

    LIFESTYLE 

  • 4
    10 Ear Diseases You Should Never Ignore

    LIFESTYLE 

  • 5
    How Anxiety Spreads Like Wildfire After Trauma

    LIFESTYLE 

Popular Now

  • 1
    New York 2027: City Transformed by Cannabis and Autonomous Cars

    LIFESTYLE 

  • 2
    Uber Conquers Africa: 1 Billion Rides and 10 Billion Kilometers

    LIFESTYLE 

  • 3
    New Research Suggests Dietary Shifts Can Help Combat Pulmonary Hypertension

    LATEST 

  • 4
    Olive Oil Proven to Reduce Dementia-Related Deaths

    LIFESTYLE 

  • 5
    Queen Elizabeth II’s Travel Legacy: Iconic Stays at World’s Finest Hotels

    LIFESTYLE 

Share it on...