The China-US trade relationship is unique and may call for a unique bilteral trade solution to cure the toxicity.One nation-the US- accounts for 90% of China’s global surplus. The EU although a substantial trade partner for China has a more balanced trade picture with Germany actually maintaining a trade surplus with China. On the other hand, China accounts for 61% of the total US global trade deficit.One of the solutions A solution Trump might be considering is a self adjusting scaled tariff in which the annual tariff rate is scaled up or down based on the annual trade deficit.This would be key in the future to keep the balance of trade deficit from getting out of line with China’s manipulation. A simple objective measure that works like an accordian raising or lowering rates based on the trade imbalance.This mechanism would impel China to buy more from their number one trading partner even if it is a little more than competitors to keep the deficit from getting out of alignment and to discourage them from manipulating markets and currency to their advantage knowing such efforts will be offset by a predetermined sliding scale of tariffs based on trade deficit ratcheting up.It is not responsive to China’s theft of trade secrets but it is responsive to their markets and currency manipulation and getting more balanced trade through getting more US product into China.Yup, we may have to pay a few bucks more for some product from that country but that’s the small price one pays for an overall solution.I doubt one is going to file Chapter 11 because they paid $300 more for an iPhone or a quarter more for that dollar Chinese can opener in Walmart
You STILL have to inquire about the SOURCE of the steel. Many other countries purchase steel from China....for all sorts of products.