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Despite alarmist warnings and market nervousness, the United States and China will step into the trade war with the entry into force on Friday of reciprocal customs taxes on tens of billions of dollars
US tariffs of 25% on 34 billion Chinese imports will hit 818 products including cars, aircraft components or computer hard drives while sparing popular goods like mobile phones or televisions. They will be effective Thursday at midnight (0400 GMT), confirmed President Donald Trump Thursday to reporters.
Immediately after, Chinese tariffs on an equivalent amount of US imports will be applied. They will affect agricultural products including soya, highly dependent on the Chinese market, the automotive sector or seafood products such as lobsters.
"China will not give in to the threat or blackmail", badured Thursday Beijing's Chinese Ministry of Commerce spokesman Gao Feng
A total of $ 50 billion in annual Chinese imports will be affected by US measures to compensate for what the Trump administration says is "theft" of intellectual property and technologies.
The second batch of 16 billion Chinese imports, which is currently under further review by USTR Robert Lighthizer, will soon enter into force, said Donald Trump, referring to "in two weeks."
Beijing, which decided to replicate identically, also plans to hit a total of $ 50 billion of US imports, with an initial list of $ 34 billion
The world's first two economic powers should not stop there as Donald Trump has asked Robert Lighthizer "to identify $ 200 billion worth of Chinese goods for 10% additional taxes." [19659002] And the US president has said he is willing to tax $ 200 billion of additional goods "if China raises its tariffs again" in reaction.
These measures could therefore bring to 450 billion the value of Chinese products taxed, the vast majority of imports from the Asian giant (505.6 billion dollars in 2017).
Experts warn for months against the potential damage of such a trade confrontation, not only on the American economy but also on the world economy
– Investments at stake –
US companies have already indicated to the Bank US central (Fed) that they were already feeling the impact with a rise in prices and "the reduction or deferral of investment projects because of uncertainties surrounding trade policy," said Thursday the Central Bank in the minutes of its last meeting in June
In an badysis entitled "the wrong approach", the US Chamber of Commerce estimated at "about 75 billion dollars." e dollars "the amount of US exports hitherto affected by the retaliation of US trading partners."
It cites six states (Alabama, Michigan, Pennsylvania, South Carolina, Texas, and Wisconsin) particularly affected, all of whom had voted in favor of Donald Trump in the last presidential election in 2016.
These warnings leave the marble the American president who once again swept the arguments on Tuesday in a tweet.
"The economy is probably doing much better than in the past, before we solve the problem of unfair trade agreements with each country," he said. "A majority of countries agree that they have to change but no one has ever asked for it," he added.
The day before, US Secretary of Commerce Wilbur Ross had, He stated that the forecasts for the future slowdown in US economic growth were "premature and probably inaccurate."
"The direct effects of customs duties, imposed so far, will not fundamentally change the US macroeconomic situation" said Robert Palombi, an badyst at S & P Global Ratings.
"However, the escalation of trade tensions between the two largest economies could have real global ramifications and sow the seeds of a significant slowdown in economic growth," he added. 19659002] On Thursday, soybean prices hit a nine-year low in Chicago a few hours before the expected US and Chinese announcements.
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