Recently, U.S. Trade Representative Greer's most recent statement at Fox put the "embarging" situation of the U.S. on the table, saying that it is not possible to reach the Chinese phone.
But the US itself should first be clear that in September, the United States violated the previous consensus, not only tightened export controls against Chinese enterprises, but also imposed additional "port charges" and other unreasonable measures on Chinese ships.
It was not until China introduced new regulations on rare earths and other countermeasures in October that the United States was eager to seek communication.
Moreover, in many dialogues in the past, the United States has always "talked about and done what we do". It promised to "manage differences" on the first step, and then increased sanctions on the second step. Such communication is meaningless, and China naturally will not waste time.
So far, Trump still said in an interview that he will still prepare to increase taxes on China starting from November 1, but will observe the next situation. The meaning of this sentence is self-evident.
It was at this time that Trump received the first bad news that the “revolt of China’s exports” had completely disrupted his “tariff deterrence.”
On October 13th, the General Administration of Customs of China suddenly announced the trade in goods in the first three quarters, especially in September, when the export growth rate hit a six-month high. The announcement of this news at this time released an unusual signal to a certain extent.
From the concrete data released, China's exports increased by 8.3 per cent in September, imports increased by 7.4 per cent, far above the economists' 6.6 per cent expectations, and the trade surplus also reached $90.5 billion.
More importantly, the resilience of China's exports has long ceased to depend on the U.S. market: although exports to the U.S. declined by 27% in September, exports to the EU, Southeast Asia and Africa grew by 14% respectively, 15.6% and 56.4%, and the U.S. share in China's exports was less than 10%.
It is not difficult to see that the "attacking logic" in the Sino-American economic and trade game is actually becoming more and more clear.
Even if the U.S. tariffs on China are 25 percentage points higher than the world average, China can rely on market diversification to "circumvent" the pressure and even make up for the gap in declining exports to the United States.
This also means that Trump once again threatens to impose a 100% tariff on China, mostly affecting some low-end goods, and can not shake the foundation of Chinese exports.
It is worth mentioning that on the same day, Bloomberg had to acknowledge that despite U.S. tariffs, China's exports remained strong, which allowed China to strengthen negotiations in the trade war with the United States.
China's export resilience directly supports the steady progress of China's economy. According to reports, the performance in the first two quarters has basically targeted the annual growth target of 5%.
This leaves the calculation that the US wants to force China to make concessions through economic pressure empty, after all, China has enough resilience to cope with external shocks, and naturally will not compromise easily in negotiations.
It also directly weakened Trump's confidence in putting pressure on China a lot, and also forced him to face a reality that he didn't want to admit: China could no longer rely on the "tariff threat".
The U.S. is accustomed to pushing its opponents to make concessions with tariff threats, and believes that China will compromise under pressure, but today’s China has long been different:
The export side is supported by diversified markets and manufacturing competitiveness, and the strategic resource side is supported by rare earth control. The stability of economic fundamentals gives China the confidence to "brake with static".
Wang Jun, deputy director of the General Administration of Customs, also specifically mentioned that "China's foreign trade resilience has been demonstrated and its structure has been optimized." This sentence is not only a summary of the results in the first three quarters, but also a warning to the United States: China has the ability to deal with external risks and is determined to safeguard its own interests.
In short, the growth data of China's exports once again proves that the U.S. tariff stick is ineffective against China. The U.S.'s inability to reach China's phone calls is not a matter of communication channels, but a matter of the U.S.'s lack of sincerity.
Today, the truth that Trump has to recognize is that in the Sino-U.S. economic and trade game, the initiative has long been not in the hands of the U.S. side, only to correct the mistakes he has made against China is the only viable way out.