Writing in the New York Times, former USTR Bob Lighthizer says: “America’s China policy does need to change. The ruthless repression of its Covid-policy protesters is the latest proof of that, but the greater urgency is that the status quo has things moving to the disadvantages of the United States as well as to the benefit of China. An incremental shift is not enough.” Other key quotes from Lighthizer:
- “In our economic competition, China is winning. We transfer well over $300 billion to the country annually in trade deficits, and China uses it to build its military, improve its competitiveness and buy our assets — increasingly our technology companies and even our farms.”
- “The U.S. objective should be to continue trade and economic activity beneficial to us and to discourage any part that is not. For example, trade in agricultural products, raw material and some consumer and pharmaceutical goods can be mutually beneficial. Importing to the United States computers, automobiles and telecommunications equipment is not.”
- “Strategic decoupling has several aspects. First, we should progressively impose tariffs on all of China’s imports into the United States until we have balanced trade. Second, we should disentangle our technology.”
Read more from Pro Farmer with a 1-week free trial. Sign up here.
