2 hours agoBusiness War Wilds Between the United States and China
Periskopi(8 years ago)
(8 years ago)US President Donald Trump effectively rocked the foundations, one of the world's largest trade relations, as he announced plans to proceed with the introduction of tariffs to Chinese imports worth $200 billion in the US. And knowing the existence of fares on Chinese products worth $50 billion, that means [...]
US President Donald Trump effectively rocked the foundations, one of the world's largest trade relations, as he announced plans to proceed with the introduction of tariffs to Chinese imports worth $200 billion in the US.
And given the existence of tariffs to 50 billion dollars worth of Chinese products, this means that almost half of what Americans buy from China ʹ the largest source of imports for them, ʹ is already subject to capital tax duties of import.
Almost the entire industry is expected to feel the effects, including agriculture, productivity, textiles and retail sales. Meanwhile, China, which in turn is the third largest market of American exports, has pledged to step up with plans to impose tariffs on US products worth $60 billion, meaning that about 80 percent of American exports to China will be subject to “aggression”.
The administration “Trump” has announced that its tough attitude becomes like pressure on Beijing to change its policies, which allow the theft of American technologies and underestimate American producers.
Trump began everything in July and August, with a modest round of tariffs targeting parts for aircraft, computer equipment, machinery and equipment, optical and surgical devices, as well as other products for which Washington claimed to have benefited from unfair trade practices.
But Monday's announcement moves things with a larger magnitude. According to a preliminary list published in July, the US administration is already targeting $8.4 billion of plastic products, $64.8 billion of electric machinery, $55.1 billion in equipment and $2.8 billion in furniture, as well as a wide range of food and meat products.
Chinese imports from the U.S. increased by nearly 500 percent over the past five years, as much as in 2017, Chinese buyers calculated 1 out of every $5 in American export income.
Since summer, Beijing has accused the US of launching the largest trade struggle in economic history “. In return for revenge, China announced in July the introduction of tariffs to agricultural products and American vehicles. The export of hybrid cars, etc.
