Recruiting the trade war between the United States and China

That was the Washigton government's response to the Beijing decision announced this morning to apply new tariffs on US products.

The government of Xi Jinping announced this Friday the imposition of import duties on US products worth $ 75 billion with a rate of 10% instead of the current 5%. The new tariffs, Beijing's response to Washington's decision to raise its tariffs on $ 300 billion of Chinese products, they will come into force in two installments on September 1 and December 15. These are the same dates that US sanctions must be applied.

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The escalation of the trade war that keeps the world in suspense It takes place at the preparatory meeting of the G-7 and brings the debate on trade protectionism to the epicenter of the summit.

The trade confrontation between China and the United States began almost a year and a half ago and, although the parties were preparing to sign peace in May, the truce has failed and the possibility of an agreement ending with this new cold war.

Beijing's announcement Friday is, in turn, the response to tariffs announced by Washington earlier this month.

In a waterfall on Twitter, Trump insisted a few hours later to US multinationals must look for "an alternative to China, including bringing our businesses home and making our products in the US""According to him," the huge sums of money stolen and stolen by China in the United States, year after year, for decades, must stop, "said the president. We do not need China and, in fact, we would be better without them, "he said.

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Trump did not hesitate to include the chairman of the Federal Reserve in his tirade, Jay Powell. "My only question is, who is our biggest enemy, Powell or Xi?" Trump insists that Powell lower interest rates to bring down the dollar.

With this new round of sanctions, Beijing is taking virtually everything that matters in the United States. These products include, for the first time, oil, certain types of light aircraft – not Boeing – and many food products, such as various nuts, frozen pork, various types of fresh fish and seafood, and Frozen, Veal, Honey and Soy, by far the product that China buys the most in the United States