Only after they destroy us economically!
Americans are not good at looking at the long term. Long term for us is more than a year. Long term for the Chinese is well over a century. Part of the reason is that our country is just over 200 years old while China has been around well over 3,000 years.
Both countries are willing to make short term sacrifices in order to gain a long-term advantage. The problem is our definition of short term is measured in months and years while the Chinese measure short term in decades or maybe centuries.
The Chinese has been nibbling away at our economy with unfair trade practices for four decades and destroying our ability to compete. We have been lulled to sleep with inexpensive consumer goods that have slowly destroyed many of our manufacturing industries. We did not care because of our addiction to consumption. We were like a drunkard who did not mind drinking cheap whiskey because it allowed him to keep his buzz. It did not matter that it was destroying his life. He was enjoying the moment.We are now waking up to the problem, however the Chinese are counting on our lack of patience and our inability to make long term sacrifices in order to make inroads into correcting the problem. We are afraid that China will stop selling cheap goods and stop buying U.S. Treasury Securities.The U.S. economy will never come back relying on only consumption. We cannot afford it. We have depleted our wealth doing so in the past. Our wealth has been transferred oversees by our unrelenting thirst for Mideast oil and inexpensive goods from China. We paid for these items not by what we produced and created. Instead, we paid for our life style by literally mortgaging our future.
All wars require sacrifices, including trade wars. Are we ready to sacrifice. We must demand that China implement fair trade practices now and we must be prepared that they will retaliate. They will because China does not believe we have the intestinal fortitude to do what must be done. They think they can wait us out.
At the same time, we must let the rest of the world know that we will require that they pay more of their fair share of their defense. We have been the sole defenders of the "free world" for over 60-years. At the time, it was the right thing to do. Now it is time that Japan, Germany, France and others pay the burden of their defense. Defending them after World War II was admirable and the right thing to do. That was then; this is now. These countries are now now back to health and need to contribute more to their own defense.
This in turn will help us fight our economic war with China and put us in a better position to sustain the reaction that China will have to are demands that they adopt fair trade practices.