The New York Times: Trump's Trade War With China - How We Got to a Stalemate in 3 Numbers
- Jun 5
- 1 min read
Steve Okun, chief executive of APAC Advisors (Singapore), predicted the Trump administration would soon raise tariffs on China, potentially to 35 percent or more.
Mr. Trump, he said, “will need to be careful not to commit to taking 301 off the table at the coming summit.” Why?
As the US prepares to raise tariffs on much of the world through ARTs or Section 301 tariffs for forced labor or industrial capacity, China must be included. For example, Vietnam's tariffs will soon be 20%. f China's are less than 35%, this will result in some reversal of the China +1 diversification into SE Asia, which will greatly benefit China.
This is why Treasury Secretary Bessent indicated the administration intends to revive some of the struck-down tariffs by the summer, laying the groundwork for broader duties through investigations into forced labor and industrial overcapacity under a provision known as Section 301.
China will not be pleased, even though this does not technically violate the Busan Agreement, where the US also suspend its Section 301 investigations into China's maritime, logistics and shipbuilding industries.
In the article, Deborah Elms noted that Trump had been softening his stance toward Beijing.
In the months leading up to this week’s summit, the Trump administration largely held its fire. “The marching orders seem to be: Don’t mess up our meeting in May,” Ms. Elms said.
With Trump in Beijing, the real test is upon us.
