International analyst Fernanda Magnotta assessed that the trade war between the United States and China is unlikely to come to an end, even with the recent dialogue between President-elect Joe Biden and Chinese leader Xi Jinping. According to Magnotta, economic tensions could even intensify in the coming years.
In analysis of the program CNN 360º this Friday (17), the expert highlighted that the relationship between the two powers is marked by ambiguity and interdependence.
“At the same time that the United States and China recognize each other as adversaries and competitors, they know that there is an inevitable relationship of interdependence,” he explained.
Continuity of Trump’s trade policy
Magnotta highlighted that Donald Trump’s economic and trade vision, which places China as a target due to the American trade deficit, should persist in the Biden administration.
“Protectionist measures are widely supported by Congress and American public opinion and, therefore, must continue,” he stated.
The analyst warned that the trade war could evolve into other sectors: “It could even advance at some point to become a currency war or even a technological war.” She cited issues such as critical minerals, rare earths and semiconductors as sensitive points in this dispute.
Impacts for Brazil and Latin America
Regarding the consequences of this tension for Brazil and Latin America, Magnotta highlighted that the Brazilian agricultural and energy sectors are attentive to taxation and tariff imposition measures. “These are two areas that could suffer major impacts”, he warned.
The expert recalled that, during the Trump administration, tariffs were imposed in the steel sector, causing setbacks for the Brazilian industry. However, she considered that there are potential for collaboration, such as in the area of biofuels.
Magnotta concluded by citing an expression coined by a Brazilian academic: “Brazil must and will probably continue to be the one that is sitting on the fence, because that is the comfortable position in this hegemonic dispute, it is where we win the most”.
This content was originally published in Analysis: Trade war between the US and China will not end on the CNN Brasil website.
Source: CNN Brasil
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