Ex-Diplomat Mr. Adelman Says Trade War Situations Are Very Unclear
The US President Mr. Donald Trump has been extremely unpredictable and it’s not clear what the end game of his trade war with China will be. A former American ambassador told the sources on Friday.
Former U.S. ambassador to Singapore from 2010 to 2013 during the Obama administration Mr.David Adelman said, that Trump, has been “wildly unpredictable in many ways with one exception.” According to the sources.
Mr. Adelman added, “He views trade, and he views even security issues, as a zero-sum game — if he sees one country benefiting or one of America’s counterparties benefiting, he makes the assumption that it must be coming at the cost of the American economy.”
Mr. Adelman is now working with Reed Smith which is a law firm.
According to the sources, “So I think it’s not too far-fetched to see the President begin to look around the world and use this very blunt instrument to prosecute his case,” said Mr. Adelman.
Mr. Adelman’s comments came after Mr. Trump announced on Thursday that the U.S. is placing 10% tariffs on another $300 billion worth of Chinese goods, effective September 1st.
In May, the U.S. raised tariffs from 10% to 25% on $200 billion of Chinese imports.
The tariff announcement astounded markets and sent major indexes in the U.S. and Asia reeling, as Washington and Beijing had just restarted tariff negotiations in Shanghai this week.
The first in-person trade talks since a truce in late June at the G-20 summit in Japan.
The White House had said after those meetings that negotiations were consecutive as well as that China has confirmed its commitment to increase purchases of U.S. agricultural exports.
“The United States is a consumer economy with outsized purchasing power and even if these tariffs took a long-term bite out of China, that doesn’t mean that manufacturing and the production of goods, is going to return to the United States” Mr. Adelman added. According to the sources.