Trump's Trade War (full documentary) | FRONTLINE
FRONTLINE PBS | Official・41 minutes read
President Trump is escalating tensions with China through increased tariffs, leading to a techonomic war rather than a trade war, reflecting a great power struggle. Issues of a potential cold war between the two nations arise, highlighting the complexities of the trade conflict and its impact on various industries and global relations.
Insights
- The trade conflict between the US and China is not just about tariffs but is seen as a techonomic war, reflecting a broader struggle for power and dominance between the two nations, potentially leading to a new cold war.
- The divide within Trump's team, pitting globalists against nationalists, highlights the internal struggle over economic policies, with disagreements on the impacts of tariffs and broader strategies for dealing with China, showcasing the complexity and depth of the decision-making process in the US administration.
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Recent questions
What sparked the trade tensions between the US and China?
Tariffs on Chinese goods by President Trump.
How did US businesses react to the tariffs on imported steel?
Mixed reactions - welcomed by steelworkers, negative for others.
What were the key divisions within Trump's trade team?
Globalists vs. nationalists on economic policies towards China.
How did China view the automotive industry's importance?
Crucial for economic growth and technological advancement.
What were the implications of the escalating tensions between the US and China?
Risks of a new cold war with long-lasting global effects.
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Summary
00:00
"Techonomic War: US-China Trade Tensions Escalate"
- President Trump is escalating trade tensions with China by increasing tariffs on Chinese goods.
- The conflict is described as a techonomic war rather than a trade war.
- The U.S. and China are engaged in a great power struggle.
- Concerns are raised about the potential for a new cold war between the two nations.
- President Trump and President Xi of China initially established a strong personal relationship during a summit at Mar-a-Lago.
- Despite the promising start, within a year, Trump imposed tariffs on China, leading to a confrontation.
- Tariffs on imported steel were welcomed by struggling communities like Middletown, Ohio.
- The tariffs had positive effects on steelworkers but negative consequences for other U.S. businesses.
- Damon Gaynor's steel distribution business faced increased costs due to the tariffs.
- Tom Shepherd's company experienced profit losses due to decreased sales to China and increased raw material costs.
12:12
Trump's Trade War: Globalists vs Nationalists
- Trump's message was about bringing back jobs that were sent overseas by the elite.
- Trump's team of trade advisers included former Goldman Sachs president Gary Cohn.
- Weekly trade meetings in the Roosevelt Room highlighted divisions between globalists and nationalists in Trump's team.
- The globalists, led by Cohn and Mnuchin, clashed with the nationalists, including Bannon, Lighthizer, and Navarro.
- Disagreements centered on whether tariffs would benefit or harm the American economy.
- The split between globalists and nationalists extended beyond industrial policy to fundamental differences in confronting China.
- Trump's default stance was to engage in an economic war with China and impose tariffs.
- Trump's decision to impose steel and aluminum tariffs surprised many, including U.S. allies.
- The tariffs led to retaliatory measures from China, escalating into the largest trade war in history.
- Despite the trade war, U.S. companies at a trade expo in China remained optimistic about doing business in the country.
25:41
China's Economic Rise and Global Influence
- Freeman Shen is the CEO of WM Motor, a Chinese company competing with American car manufacturers in the largest auto sales market globally.
- The car industry symbolizes a country's industrial advancement, encompassing various technologies like software, mechanical, and cybersecurity.
- Building a strong car signifies a country's technological progress and position in the value chain.
- China views the automotive industry as crucial for economic growth, investing heavily to elevate its manufacturing and technological capabilities.
- China's economic success, driven by a state-sponsored model, has led to tensions in the trade war with the US.
- China's population size and economic potential challenge the US, prompting concerns about China's growing power.
- Trump's administration escalated tariffs on China, citing past leadership failures in handling trade imbalances.
- US businesses faced challenges in China, including forced technology transfer and unfair competition policies.
- China's economic rise and global influence were underscored by events like the 2008 Beijing Olympics, contrasting with the US financial crisis.
- China's strategic plans, like "Made in China 2025," aim to dominate global industries, while cyberattacks on US companies reveal additional tactics for advancement.
38:03
US Companies Navigate China-US Economic Relations
- Companies victimized by China are also the ones urging the US government not to harm their business relationships with China.
- US government listens to companies, hence refrains from taking action if companies advise against it.
- Businesses can walk into US agencies to complain about unfair treatment while preventing any action from being taken.
- Incentives for businesses in China prioritize making money over loyalty to the US government.
- Obama negotiated with Xi Jinping to prevent China from engaging in economic cyber-hacking.
- Obama's Trans-Pacific Partnership aimed to pressure China to resolve economic issues but was undone by Trump's withdrawal.
- Trump's administration accused China of breaking cyber agreements and technology theft, escalating tensions.
- China's Made in China 2025 plan aims to control advanced industries globally.
- Silicon Valley is a battleground for the US-China tech conflict, with the US trying to limit China's access to American technology.
- The trade war has shifted focus from tariffs to dominating cutting-edge industries of the 21st century.
50:33
China's Leadership Change and US-China Tensions
- The discussion revolves around the need for a change in the top leadership of the Chinese Communist Party to potentially shift China towards a more liberal, democratic system, away from its current totalitarian mercantilist economic structure.
- The escalating tensions between the United States and China, particularly regarding trade deals, the arrest of a top executive at Huawei, and the potential for a new form of cold war, pose significant risks and challenges that could have long-lasting global implications.
