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The latest escalation of trade frictions between the United States and China should not be surprising. After all, it conforms to the development model of the conflict between the two sides so far.
U.S. President Trump said Thursday that he would impose a 10% tariff on the remaining $300 billion of imports from China from September 1, after the latest round of negotiations between Chinese and American negotiators failed to make progress.
The market reaction is fierce. Brent crude oil plunged 7.2%, the biggest one-day decline in more than three years. U.S. stocks went up and down, and U.S. Treasury bond prices rose.
But based on a year's experience in the Sino-US trade war, investors should be able to anticipate the capricious Trump's move.
The beginning of the war was the Trump Administration's request to readjust the trade relations between China and the United States. The goal was to reduce the trade deficit between the United States and China and force China to make concessions in the fields of intellectual property rights and industrial subsidies provided by the government.
Although Trump clearly has his reasons from the perspective of fair trade relations between the two countries, his tough strategy has so far failed to achieve his desired goals.
After every round of tariff action, there are basically high-level talks, followed by positive signals and encouraging tweets from Trump, and things seem to be stagnating.
This has led to a new round of tariffs and threats, much like this week's situation.


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