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Repeated multi-billion punitive tariffs, with which Washington and Beijing prove each other, are now causing concern in parts of Germany. "At the moment, this looks like a global trade war," said the German government's transatlantic coordinator Peter Beyer (CDU), the newspapers of the Funke press group (Saturday). In Germany, this would particularly affect car manufacturers who produce and sell many vehicles in the United States.
The Beijing Ministry of Commerce warned that the recent tariff spiral is hampering the recovery of the economy and is causing concern for both businesses and consumers. will hurt. In the Chinese state media, other countries have been called on to oppose American protectionism together. "Economic housing will only strengthen the government (of US President Donald) Trump and encourage his selfish attitude," warns China Daily. "The rest of the world should not back down."
On Friday, the trade dispute between the two economic giants intensified following Trump 's imposition of a 25% tariff on imports from China. worth $ 34 billion. Beijing reacted immediately with its own special taxes on imports from the United States. Trump is threatening China with additional tariffs that could be extended to all of its US imports worth more than $ 500 billion.
The Chinese Ministry of Commerce has filed a formal complaint with the World Trade Organization (WTO). wounded. China follows the example of the EU and Canada. Moreover, according to media reports, the United States is blocking important WTO rulings, including the replacement of arbitration courts.
The Baffles of the German Automobile Industry
Punitive tariffs in the United States primarily target technological products because they accuse China of stealing intellectual property and d & rsquo; Impose the transfer of technology. In retaliation, China levies additional taxes on US agricultural products such as soy, fish, pork, beef and dairy products. It thus aims at the electorate Trumps in the rural area.
Higher rates are, however, also high on cars. This would mainly affect German suppliers such as Daimler and BMW, which also supply the largest car market in China with factories in the United States. Daimler has already issued a profit warning. And almost every fifth BMW sold in China comes from the United States. Transatlantic coordinator Beyer expects Trump to impose punitive tariffs on EU cars, presumably before the congressional elections on 8 November. The main affected would be Germany. Porsche Vice President Lutz Meschke told the "Stuttgarter Zeitung", in the case of very high levies, that his company was planning a separate US production in the long term.
The duties imposed up to here, according to Chinese data, to 59%. US companies in China have also criticized punitive tariffs as "counterproductive". "There are no winners in a trade war," said William Zarit, president of the United States Chamber of Commerce,
Trump is on several fronts because of the US deficit of more than 800 billions of dollars in foreign trade without adhering to the rules of the WTO. He also denounced the neighbors of Canada and Mexico as well as allies such as the European Union countries at punitive tariffs on steel and aluminum on the grounds that he wanted to guarantee the national security of his country.
The Organization for Economic Co-operation and Development gives itself at first a little more calm with the idea of a possibly intensified tariff escalation. "I think that in the end, the reason will prevail, because the rates are in anyone's interest," said Deputy Secretary General Ludger Schuknecht of the Southwest Broadcasting. He does not expect direct negative effects of the controversy between the United States and China over the EU.
(APA / dpa)
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