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The administration of Donald Trump is preparing a 25% tax proposal on Chinese imports for $ 200 billion. Rates are two and a half times higher than originally advertised, and Washington's goal is to increase pressure on Beijing and bring it back into negotiations, making it more profitable, reports Bloomberg.
The products concerned include foodstuffs, chemicals, steel and aluminum and consumer goods ranging from canine food, furniture and carpets to car tires, bicycles, baseball gloves and cosmetics
The decision on The imposition of duties will likely be announced today and they will come into force after a period of public debate ends in late August
Renewed
The United States imposed new tariffs, China said. The trade war is inevitable
Washington has already imposed $ 25 billion on Chinese imports for $ 34 billion, and this week it should activate tariffs
A continual battle between the two superpowers will bring a major blow global trade, investment and growth. on products for an additional $ 16 billion. Beijing responded with the same rights on US imports. Trump even threatened to impose 500 billion Chinese dollars of Chinese products – just about all Chinese imports to the United States
. New Rights on Chinese Products, Tilapia, PCBs and Lighting Products
At the same time, representatives of US Treasury Secretary Stephen Munchin and Chinese Vice Premier Liu He continued communication, seeking ways to resume negotiations
Washington takes drastic action to gain better position in future negotiations and obtain trade concessions from Beijing. However, this could worsen the trade war between the two countries.
10% of tariffs on these products are already problematic, but increase more than 2 times to 25% will be much worse, warns Erin Ennis, vice president Given the range of products concerned, about half Chinese imports are subject to tariffs, including consumer goods, and the increase in costs will be pbaded on to customers, which will affect most US portfolios. "said Ennis, citing
But in a few days, Trump himself withdrew from the agreement, saying q that the negotiations "should probably use a different structure" "China and the United States have held several consultations and reached an important consensus, but unfortunately the United States has failed or made a concerted effort with China" said Chinese Foreign Minister Wang Yi
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