From CNBC: 2024-07-18 01:38:21

Relations between Washington and Beijing are strained, with disputes over trade, technology, and territorial claims. U.S. presidential hopeful Donald Trump’s running mate JD Vance highlighted the need to protect American workers from China. China aims to grow its middle-income group by 2035, despite being far poorer than the U.S. on a per capita basis.

Vance advocates for more U.S. factories, restrictions on foreign workers, and legislation to promote gas and hybrid cars made in the U.S. China’s middle-income group had a lower per capita disposable income than the nationwide level last year. The U.S. middle-class median income was $106,100 in 2022.

Trump plans to raise tariffs on Chinese goods to 60% if reelected, blaming China for the fentanyl crisis. Vance identified China as the “real issue” for the U.S., posing the “biggest threat.” China’s Ministry of Foreign Affairs opposes making China an issue in U.S. elections.

Read more: JD Vance blames U.S. wage losses on China building its middle class