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Jakarta, CNBC Indonesia – The President of the United States (US), Donald Trump, awoke the idea of breaking relations with his trading partners (China), on the pretext that China made a big mistake that led to the spread of the Covid-19 pandemic. . False rhetoric (again), or is it serious this time?
Relations between the United States and China began to separate two years ago. This lack of harmony is seen when the two corresponded to import tariffs in March 2018, in a series of trade wars between the United States and China. Almost two years ago, both trade wars have shaken the global economy. Global supply chains are disrupted and trade is slowing down.
Then they both decided to breathe first, signing a phase I trade agreement on January 15. The essence of the deal is less essential because most Chinese products worth $ 250 billion are still subject to a 25% tariff. Goods only made in China For a value of US $ 125 billion, the rate is discounted 50% from 15% to 7.5%.
Although the substance does not focus on the issue, both said they would continue to work to improve the relationships that had been broken. A phase II trade agreement is reportedly to be accelerated in November this year.
But the dream of reconciliation between the United States and China returned. Trump’s relationship with Xi Jinping heated up again after an outbreak of the coronavirus (COVID-19). China became the first country to contract the plague. But after China escaped the shackles of the plague, the epicenter now moved to Uncle Sam’s country.
To date, there have been 4.4 million people who have tested positive for Covid-19 worldwide. America contributed 1.3 million alone. So many victims in the United States, the superpower economy was devastated emergency shutdown in various states
The United States unemployment rate also rose to 14.7%. From mid-March to May 8, claims for unemployment benefits in the United States have reached 36.5 million. The economy also experienced the deepest contraction since the 2008 financial crisis and for the first time since 2014 in the first quarter of 2020 with minus 4.8% (annualized)
This bitter fact has angered Trump, a former American property tycoon, and is seeking a culprit. He also accused China of not coping with the plague so that the epidemic turned into a pandemic that affects more than 200 countries and territories as it is today.
“They shouldn’t have allowed this to happen,” Trump was quoted as saying. Reuters. “I made a great business deal and now I can say I don’t feel the same. The ink has dried and the plague is coming. It doesn’t seem the same to me.”
He went on to say that he currently did not want to speak to Xi Jinping. In fact, he said, he could do many things to “punish” China, including severing all relations that have been established.
“There are many things we can do. We can cut all relations (with China),” he emphasized. He even claimed that he could save up to $ 500 billion if the plan were carried out. The figure refers to annual imports from the USA. USA From China.
But is it true that the $ 500 billion savings are worth the amount Uncle Sam has to bear? Can they both be separated? It’s not that easy, Ferguso!
[Gambas:Video CNBC]