In November 2005, hu Jintao, then Chinese president, and former Chilean President Ricardo Lagos witnessed the signing of the Sino-Chilean Free Trade Agreement (FTA). The agreement entered into force in October 2006. Under the agreement, China and Chile will gradually extend the duty-free regime to 97% of products within ten years. Until September 2019, U.S. automakers reduced capital investment and delayed hiring due to uncertainty caused by the trade war. [225] Since the 1980s, President Trump has often advocated for tariffs to reduce the U.S. trade deficit and encourage domestic production, claiming that the country was being “ripped off” by its trading partners and that the introduction of tariffs was an important part of his presidential campaign. [22] [23] [24] [25] [26] In early 2011, he stated that because China had manipulated its currency, “it is almost impossible for our companies to compete with Chinese companies.” [27] Alan Tonelson from the United States. The Business and Industry Council said China`s undervaluation level was at least 40 percent, and said tariffs were the only way to remedy this: “Nothing else has worked, nothing else will work.” [27] Analysts have speculated that the trade war could influence the 2020 U.S.

presidential election, as tariffs have had a negative impact on farmers, an important constituency for Trump. [241] [242] Analysts have also speculated about the impact of the trade war on Xi Jinping on the internal political pressures to which he has been subjected. [242] Some media outlets have called RCEP a China-led effort, but analysts say this is imprecise. “It hasn`t even been dominated by China in a long time, although China is the largest economy in the deal,” said Michael Green, senior vice president for Asia at the Center for Strategic and International Studies. He cited Japan and ASEAN members, including Singapore, as pilots. Negotiations on the free trade agreement began in August 2006 and both parties successfully concluded negotiations in September 2008. The China-Singapore Free Trade Agreement is a comprehensive free trade agreement covering trade in raw materials, trade in services, personnel flows and customs procedures. Signing of the RCEP, which brings together a total of 2.2 billion people and covers 28% of global trade On August 14, 2019, the Dow fell 800 points, partly due to rising trade tensions between the United States. and China. [236] Nine days later, on August 23, the Dow fell 623 points on the day Trump informally told U.S.

companies to immediately look for alternatives to activity in China. [237] [238] At the end of 2019, stock markets reached record levels after rising due to the agreement reached between the United States and China to sign the first phase of a trade agreement. [239] [240] Economists at financial firm Morgan Stanley have been uncertain about the end of the trade war, but warned in June 2019 that it could lead to a recession. [321] The two sides exchanged threats and sanctions against individuals and companies, such as Chinese video-sharing platform TikTok. . . .