Trump thinks that the USA is treated unfairly in trade on a global scale, and we have seen his statements on this subject throughout the year. He had confrontations with various countries many times and then made agreements. But the most important thing was what he faced with China, because it is possible that this could lead to much bigger things. Moreover, as tensions increase on the 10th of this month, China and the USA are preparing for mutual retaliation on November 1. Just a while ago Law 301 We learned that action will be taken within the scope of
USA and China
The 301st law is a law passed by the US Congress that enables “the United States to take action against another country’s unfair actions in trade.” With this law, the USA can open an investigation and take countermeasures if necessary. The agency responsible for enforcing the law is the Office of the United States Trade Representative (USTR)
According to sources in The New York Times, an investigation into compliance with the 2020 China agreement is coming. trump and Xi will meet in two weeks, and launching an investigation before that will increase tensions. However cryptocurrencies For now, he doesn’t care about this development.
An investigation will be launched due to China’s failure to fulfill the terms of the agreement, and it is actually a very good trump card for Trump to gain an advantage before the meeting. So export controls have been announced to counter China’s export controls, counter-tariffs will begin on November 1, and the US is also launching a 301st Act investigation. In other words, the number of things to be negotiated during the meeting increases.
The big day is October 30th. Trump and Xi will meet in South Korea if they don’t hear of cancellations etc. by then. It would be great if they agree, but if they do not agree, they will fire mutual trade missiles at each other within 48 years, that is, on November 1.
The agreement signed in 2020 called for China to purchase an additional $200 billion in US goods or services. So did China buy it? No.
