In the past few years, trade frictions between the two major economic giants of China and the United States have been a concern.
Although trade wars are named after "protection" and "competition", their consequences are far more profound than the original intentions of the two governments.
Three years have passed, and the United States did not achieve the expected victory in this trade war.
On the contrary, as commodity orders flow to other countries, the United States realizes that sometimes even price reductions cannot change market decisions.
Since 2018, the Sino US trade war has become a focal point on the global economic stage.
When US President Trump announced the imposition of tariffs on Chinese goods, his main goal was to reduce the US trade deficit with China, protect domestic manufacturing and employment, and curb China's technological development.
Three years have passed, and this strategy seems to have not been carried out as expected.
Although the United States has implemented multiple rounds of tariff measures, the reduction in its trade deficit with China is not significant.
In 2023, although the US trade deficit with China decreased by $14 billion in 2019 compared to 2018, reaching $345.6 billion, this figure is still higher than the levels of 2016 and 2017.
Despite the imposition of tariffs, the demand for Chinese goods from American consumers has not decreased, but has shifted to other countries.
This shift has led to higher costs for American consumers and businesses, while the issue of trade deficit has not been substantially resolved.
The United States is attempting to curb China's technological development and innovation capabilities through a trade war.
This strategy seems to have had the opposite effect.
Faced with external pressure, China has accelerated its pace of independent innovation and established closer diversified cooperative relationships with other countries.
This year, China's growth rate in technology research and development investment has reached the highest level in history, while its technological cooperation with Europe, Southeast Asia, and Africa is also deepening.
With the United States imposing tariffs on China, some bulk commodity orders are beginning to flow to other countries.
Nowadays, China's large orders of millions of tons, especially in the fields of agricultural products and energy, are turning to other supply countries such as Brazil, Russia, and Australia.
Although the United States attempts to "recapture" the market through tariff measures, it is actually prompting China to seek other partners.
However, American businesses and farmers are facing a loss of market share, and even if prices are lowered, it is difficult to attract back these orders.
The trade war between China and the United States not only affected the economic relations between the two countries, but also had a profound impact on the global economic landscape.
The current trade war strategy of the United States has not achieved the expected results, but has instead plunged itself into more complex economic difficulties.
China has accelerated its cooperation with other countries and stabilized its global economic position.
This trade war has taught us an important lesson: in today's globalized world, unilateral protectionist strategies cannot solve problems. Only through cooperation and dialogue can we achieve true win-win results.