China trade terms with the US

China is one of the fastest-growing economies in the world. The indicators of the economy in China are far more stable in comparison to other developing countries. The GDP rate is increasing and their influence is as a major trading partner with other parts of the world. The influence of China is not a new phenomenon in terms of impactful economic growth.

The gross national product of China has exceeded the other countries. The engagement of China with the different regional players and the US, in particular, is one of the key features of China’s economic growth. The investment between China and US has reached $659.5 billion in 2020. China has control over the purchase and financing of the top U.S. exports, for example, aircraft, agriculture, semiconductor chips, and equipment.
The growing influence of China has become the source of concern for the US. In order to keep a check on China’s control in imports of US. Congress passed regulations to decrease the growing trade with China. After the deficit of their companies that are becoming a major concern for the US-based companies. In 2018, Hawaii under Section 301 of the Trade Act of 1974 (19 U.S.C. §2411) concluded that China is using force to transfer its technology and involve in cyber theft of US IP.

The US imposed tariffs of $250 billion on imports from China. Chinese took actions to prevent the imposition of tariffs by the US. They use espionage and theft of IP against Chinese tech company Hawaii to get Licensed from Government for importing technology from the US. They have restricted the use of the Huawei products use in 5G networks. The use of US equipment requires authorization from the government but the advancement of China in its use supersede US capability of modern equipment.

China is working to reduce its dependence on the US for the energy supply and agriculture. They are investing in developing semiconductors capacity to generate energy that they need in different sectors especially in agriculture to achieve self-sufficiency to generate the energy required for revamping their agriculture output using smart technology equipment instead of conventional means of power generation.

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