Shapiro Warns of U.S.-China Trade War
"Friction is building" in a potential trade war between the United States and China, and the Obama Administration needs to do more to stop the escalation and foster dialogue. That's the opinion of Gary Shapiro, the president and CEO of the Consumer Electronics Association.
Writing a guest blog post on CNBC.com, Shapiro opined that with China emerging as the top exporter in the world, with the globe's largest car market and steel manufacturing sector, it has become alarming that the U.S. government has been imposing duties and tariffs on Chinese products, leading to China responding in kind with both intellectual property and Internet use restrictions.
Shapiro also ripped the current administration for its "uncertain and at times schizophrenic trade strategy."
"The Obama administration must reject [a] trade policy solely focused on enforcement-enforcement-enforcement and move the debate toward openness and dialogue," Shapiro wrote.