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Agencia EFE
The government of US President Donald Trump will impose an increase in tariffs on imports of Chinese products worth $ 34 billion in the coming hours, decision to which on The Chinese authorities have already announced that they would react in the same way.
The entry into force of these taxes, scheduled for Friday at 00:00, will mark the beginning of the formidable trade war between the two countries. the two economic powers, whose trade relations have been strained since the arrival of Trump at the White House.
YOU CAN SEE The US will put tariffs on 1,300 Chinese products
The first wave of Washington tariffs for 818 categories of goods imported from China mainly includes components of the chain of Supply of industrial sector and technological, but also points to several mo consumer goods, such as LED bulbs and electronic cigarettes, among others.
The entry into force of these sanctions of 25% to Chinese imports worth 34 billion this Friday is part of the first phase of a total penalty of 50,000 million , as announced by the White House in mid-June.
Bloomberg badysts calculated that with these measures, China's gross domestic product for 2019, which is expected to grow 6.5% this year, it could suffer a slowdown by two tenths.
Beijing, for its part, repeatedly reiterated that she was not in favor of triggering a trade war against the United States, but he also warned that He would not be unmoved by the trade barriers imposed by the Trump executive.
Without going any further, the spokesman of the Chinese Ministry of Commerce, Gao Feng, said at a press conference today that China "it's not going to turn the first chip" and that it will not apply tariff measures until the United States. "
" US measures are essentially attacking global supply and value chains. They open fire on everyone, including against themselves, "Feng said.
China's announced response to US sanctions includes sanctions on 545 US products, including pork and wheat ]] Dairy Rice and soybeans, two key foods in this Asian culture.
According to projections from the Peterson Institute for International Economics, based in Washington, DC Macroeconomic impact will be "minimal", but this will affect the micro level in certain sectors and companies.
In particular, China's tariff measures on US products will job losses, slowing investments and rising prices in the United States, among others.
For economist Monica de Bolle, a researcher at the Peterson Institute for the US. international economy, "this inter-shock is the beginning of a trade war between United States and China. "
" When one punishes and the other responds, the two countries enter a trade war . We were expecting, I'm not surprised: China and the United States do not negotiate, only attack, "said De Bolle in a statement to Efe.
In fact, Trump was already threatening a new transfer of tariffs to other Chinese exports million dollars in case the government of Xi Jinping would respond to the sanctions that will come into force in the coming hours
Although it is agreed that China is a " Threatens "for the US economy ] the United States Foundation for Innovation and Information Technology (IFIT) believes that" there is a wide range of & dquo; Tools that go beyond tariffs and that can effectively combat trade distortions. "
United must be the leader of a liberal and international economic order in which fewer nations adopt practices mercantilists, an approach that has produced a huge rich For us and our partners to eat Stephen Ezell, vice president of IFIT, said in a statement released today:
In addition to the consequences on the economies of both countries, the US trade war Chinese will affect the functioning of world trade . as predicted by many multilateral organizations, such as the International Monetary Fund (IMF).
De Bolle agreed with this badysis, explaining that nowadays the trade "is very interconnected worldwide," The economic conflict "will create instability and will increase the level of energy." alteration in the overall system ".
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