Washington's bet on 'maximum pressure' will not pay off
For some countries, the more things change the more they remain the same. Indeed, the US leader's tweet saying Washington intends to impose 10 percent tariffs on the remaining $300 billion of Chinese imports the day after the 12th round of trade talks in Shanghai concluded on a "constructive" note, according to the US negotiators, must have left many with a strong sense of déjà vu.
Déjà vu or not, the US' latest tariff move, which will take effect on Sept 1, deviates from the right track. And contrary to what the US believes, it will not only harm bilateral trade but also hurt American businesses, as some have been quick to point out. China will be compelled to take necessary countermeasures to safeguard its interests if the US goes ahead and imposes the additional tariffs.
That the US move seriously violates the consensus reached by the two heads of state on the sidelines of the Osaka G20 Summit is clear. As is the hackneyed US excuse for imposing the new tariffs. By claiming that Beijing had agreed to purchase agricultural products from the US in larger quantities but did not do so, the US leader seems to be saying no matter what Beijing does, the US will always find an excuse to levy punitive tariffs.