CHINA - Exports to US Surged Despite Tariffs

Arno Froese

Despite the Trump administration’s tariffs on Chinese goods and the ongoing COVID-19 pandemic, US imports from China are surging as the year 2020 draws to a close, The New York Times reported.

“The surge in imports is another byproduct of the coronavirus, with Americans channeling money they might have spent on vacations, movies and restaurant dining to household items like new lighting for home offices, workout equipment for basement gyms, and toys to keep their children entertained,” the report said.

Trade data for the first 10 months of this year, compiled from United States Customs data by IHS Markit, shows that American imports of consumer electronics, masks and other personal protection equipment from China have been strong amid the pandemic, according to the report.

The surge in US imports from China “has defied the expectations of American politicians of both parties,” who earlier this year predicted that the pandemic would be a moment for reducing trade with China and finally bringing factories back to the United States, the report said.

The report found that “there is little sign that global supply chains are returning to the United States” despite the Trump administration’s tariffs on more than $360 billion worth of Chinese imports.

“Overall, China’s quick economic recovery and its dominance as a source for products that Americans have turned to during the pandemic have outweighed the dampening effect of Trump’s tariffs,” Mary E. Lovely, a senior fellow at the Peterson Institute for International Economics, was quoted by The New York Times as saying.

Jay Foreman, chief executive of the toy company Basic Fun!, also told The New York Times that he considered moving some operations to Vietnam or India, like many toymakers did amid the trade wars last year, but “staying in China ended up to be the best move.”

“China still has the best production supply chain of anybody in the world, and as it turned out, they were able to tackle the pandemic faster and more efficiently than anybody else,” he said.

In the first 11 months of the year, the Association of Southeast Asian Nations remained China’s largest trading partner, followed by the European Union and the United States, according to the administration.

-global.chinadaily.com.cn, 16 December 2020

Arno's commentary

Communist China seems to beat all expectations when it comes to the global economy. Quick and decisive action, enforced by the government, proved to be successful in controlling the Covid-19 pandemic and restarting its amazing economy.

What is the secret to China’s economic success? Many experts point to their ability to recognize the moves or tendencies of the global economy, and quickly retool its factories to supply the world with what it needs. China knows how to utilize communism, socialism, and capitalism to the utmost. Powerhouse China will continue to grow and surpass all other countries to become number one; it’s just a matter of time. 

From Biblical perspectives, we see this development as a strategy to globalize planet earth. Revelation 13:3 will be fulfilled: “And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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