Pausing tariffs on China is pointless.
The reality is that tariffs with China are not the problem. China imposes significant non-monetary barriers to entry that effectively bar American companies from doing business in China. The tariffs could be zero and it would not matter.
The countries have agreed on a few of these non-tariff barriers. For example, China will suspend export controls on rare earth minerals, and has agreed to remove certain American companies from their “blacklist” which limit their Chinese operations. Unfortunately, these measures do not address the primary non-monetary barrier, which is endemic corruption and an inability to enforce property rights.
In any case, China agreed to play by the rules when they joined the World Trade Organization in 2001. China then spend the next two decades violating their own agreements at every twist and turn. We should have little confidence that China will enforce any non-monetary agreements in the future, based on their track record.
Reshoring American industry is the only way to keep America prosperous & safe in the future.
