US and China and the COVID-19 pandemic

US and China and the COVID-19 pandemic

Despite the tremendous global disturbance from the COVID-19 pandemic, the US and China have committed themselves under phase one trade deal. The two make the world’s largest economies, and their agreement is expected to raise US gross domestic product and, at the same time, create millions of jobs. Chinese have taken meaningful steps concerning their phase one agreement between the US and China to address non-tariff barriers to trade that they have had in previous years. According to the chief economist at the Americas Farm Bureau, John Newton, around five hundred beef plants have been allowed to export their product to China. He added that they are enhancing and streamlining the approval processes that require more US agricultural products into China. According to John Hopkins University and Medicine’s latest news, the virus which originated from china has infected two hundred and eighty-six thousand people and nearly killed twelve thousand people worldwide.

The pandemic has caused governments around the world to lock down populations, cancel non-essential travel as well as recommending social distancing. China has started to recover from its quarantine. The initial agreement signed by Washington and Beijing on January 15 includes dedication by china to purchase more than two hundred billion dollars’ products of the US over the next two years. The Trump administration expects trade with China to a spike in a little bit since the pandemic is in a stable condition so that citizens can enjoy free and fair trade. The US has reduced tariffs on specific products manufactured in China as part of the deal but keeping duties on three hundred and seventy-five billion dollars’ merchandise that was imposed by president trump in an attempt to force Beijing to negotiate on the broad trade pact. According to phase one signing, Chinese imports are still subjected to a twenty-five percent tariff, and 125 billion dollars of Chinese goods are subjected to a 7.5 percentage rate.

Tariffs have been imposed to provide relief to companies impacted by the COVID-19 outbreak. Spokesperson of the Americans, Johnathan Gold, said that liquidity is a big issue for free trade coalition, a broad alliance of American businesses, trade organizations, and workers united against tariffs. He added that the ability for companies does not pay some of these tariffs would inject money that is highly needed for the economy of the country. The spokesperson said that the American businesses had recovered more than fifty billion dollars from tariffs, which is paid by importers when their goods arrive in U.S. Retailer’s profits have been affected by duties bite which has forced them to rice prices or consider cuts like layoffs to compensate their earnings.

Trump confirmed it at a press briefing on March 21 that China is paying US billions and billions of dollars in tariffs. The coronavirus pandemic is forcing most of US retailers to shut down their mortar operations due to reduced sales. Trump wants a higher phase for the next phase of the trade agreement to reduce the war between Washington and President Xi Jinping’s over who is responsible for the COVID-19 virus.

The trade deal between America and China will lead to labor protection, which is very weak in China. The rights of workers are essential components of human rights, and the Trump administration will ensure that the labor force enjoys necessary protection everywhere and lives to the standards. Phase two of trade negotiations is targeting American corporations that will contribute surveillance technology to enable china’s authoritarian practices. The cooperation will also restore the direction of the North American economy for numerous companies that rely on the rules to carry out businesses. America needs to build a cyber-wall as an outside influence to protect its intellectual property. America should also negotiate a trade deal with its allies and partners in the region to deepen and strengthen economic foothold effectively. The US should use all the diplomatic and economic levers to force China and other global countries to comply with their trade and legal commitment. These commitments will need to support, which is required to approve the new deal and provisions related to labor and environments.

Donald Trump should invite other countries like Russia to defend the United States and its interests. The US should formalize and strengthen the security relationship with trading countries like China to ensure that they resolve disputes and trade is not disrupted. In business, cooperation is the key; hence when a nation behaves in a manner that is not acceptable, the first place is to end working to create climate change. The U.S should continue supporting its strategies and trade partners in the area and to incorporate international community and hence assist in global expansion. The US president should also sign an agreement with China to be able to claim that he has renegotiated trade terms with countries responsible for American trade.