The Impact Of Trade Protectionism Policy Of Trump Administration On Sino-U.S.Trade

Since the resumption of the Sino-American economic and trade relations in 1979,China and the United States have been interdependent for 40 years.In 2017,bilateral trade between China and the United States reached us $635.97 billion.Despite such a close relationship between China and the United States,bilateral trade frictions between the two countries continue due to conflicts of political interests,economic and trade imbalances and other reasons.In particular,the trade protection policies implemented after trump took office in January 2017 have intensified the trade frictions between China and the United States.The cause of trump administration to implement trade protectionism policy is mainly America's own economic problems,but trump administration blamed America's own economic problems on economic globalization and trade liberalization.at the same time,the Sino-American political,economic and trade relations also is a cause of trade protection from trump administration,then trump administration put forward various trade protection policies which respond "America first,make America strong again".The trade protectionism policy of the trump administration mainly exerts influences from both domestic and international perspectives.In the United States,it adopts measures such as tax reduction and interest rate hike,strengthening infrastructure and financial deregulation to attract the return of manufacturing and investment in order to revitalize the economy.Internationally,the United States withdrew from the TPP and transformed the trade agreement from multilateral to bilateral.Meanwhile,various trade barriers were used to protect the United States trade.Trade protection the United States put forward will have different impacts on the Chinese and American economies.It has both positive and negative effects on American economy.It all comes down to this: the costs overweigh the benefits.The impact on China's economy is mainly the impact on China's trade,industry and investment,which requires China to take strong measures to cope with.China should respond to the trump administration's restraint to China from both political and economic perspectives.Politically,China and the United States should enhance strategic mutual trust and high-level communication.At the same time,China should promote reform of the global economic governance system actively,making full use of the WTO,the "One Belt And One Road" and the pilot free trade zone to build a multi-tiered community of interests in order to promote win-win international cooperation.Economically,China should strengthen independent innovation,accelerate industrial upgrading,and continue to open up,so as to remain invincible in the international competition.