In sum, China does not want to fight a trade war and hopes to develop stable, mutually beneficial, and fair trade relations with the United States. Trump launched the largest trade war in history against China, slapping tariffs on $50 billion worth of Chinese exports, and now threatens to levy tariffs on an additional $200 billion or even $500 billion. Obviously, Trump's trade war is typical trade bullying, and the Chinese government is forced to resolutely fight back. At the same time, China is accelerating market-oriented reforms and opening up the market to foreign investors as a counterbalance to trade war challenges. Given the fact that China is already the largest domestic sales market and is further opening up its market, the US may lose opportunities to other competitors if the Trump administration insists on a trade war with China. Moreover, the escalation of trade war recalls the tragic history of the 1930s, when the US Congress passed the high tariff trade protection law, the Smoot-Hawley Tariff Act of 1930. The result was a world-wide trade war, a currency war, and finally the totally destructive World War II. The wise American people should be more aware of the results of this period of history and oppose the policy of trade war.
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