Concern over the global trade war is on the rise

US President Donald Trump has even threatened to impose additional punitive tariffs on all Chinese imports to the United States. 50000 billion dollars could be extended.

In the first round, US special taxes of 25 percent on imports from China, worth US $ 34 billion, came into effect at midnight Washington time. Chinese customs reacted immediately with its own special tariffs on imports from the United States to the same extent. China is forced to take the "necessary counterattack," said a spokesman for the Ministry of Commerce in Beijing. The United States had inaugurated "the greatest trade war of economic history".

Meanwhile, the Chinese Ministry of Commerce has filed a formal complaint to the United States with the World Trade Organization (WTO). Beijing sees the rules of the organization hurt. China follows the example of the European Union and Canada. Meanwhile, the United States is blocking major decisions in the WTO, including the replacement of arbitration courts.

Chinese punitive tariffs affect agricultural products such as soybeans, fish, pork, beef and dairy products. China is targeting Trump's electorate in rural areas. Higher rates are also levied on cars. Among them are mainly German automakers such as Daimler and BMW, who also supply the largest automobile market in China from their factories in the United States.

Daimler has already issued a profit warning. Almost every fifth BMW sold in China comes from the United States. Beyer expects Trump to impose punitive tariffs on EU cars, presumably before the legislative elections in the US on November 8th. The main victims would be Germany.

According to Chinese sources, however, current tariffs affect 59% of foreign-invested enterprises in China. 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 American Chamber of Commerce in China

. Economists fear that the conflict between China and the United States will become an uncontrollable trade war. The International Monetary Fund (IMF) estimates that the trade volumes affected, at least for the moment, are too small for them alone to cause major problems for the economy. World. However, the effects are feared by the uncertainty of the markets and a growing spiral of escalation

.

Beyond manageable short-term consequences threatens "more mischief" in the long run because global production chains could break, writes Commerzbank. "Then multinational companies should write off some of their international production facilities and expand their domestic production facilities at high costs," they warned. "Profit cuts and cost reduction programs would result, which would weigh on workers."

Due to the US deficit of more than $ 800 billion, Trump pulls on several fronts without complying with the rules of the WTO. hold. He has also testified to the neighbors of Canada and Mexico, as well as to allies such as the countries of the European Union, with punitive tariffs on steel and aluminum under the Insurance that he wanted to guarantee the national security of his country

in China, but also mbadive criticism in the interior of the land. Parts of Trump's own Republican Party see hidden taxes in the tariffs. Critics believe that part of Trump's entrepreneurial tax reform can be neutralized.

There is a stir in American retaliatory industries. This is especially true for farmers. China, Canada and Mexico, for example, are asking for an increase in tariffs on pork products in the future, and the EU has levied a retaliatory tax on whiskey.