Chinese tariffs will not increase if the US push back the term of the trade agreement


PResident Trump explained on Friday that he was still at the customs tariff, a nickname that inspired a legion of superhero memes, but suggested that he was willing to fight with China if that meant the final conclusion of a trade agreement.

At a press conference at the Rose Garden, he pointed out that it was an excellent commercial deal "better than any agreement that no one would have ever dreamed possible" .

Negotiators who work with the government of Chinese President Xi Jinping to this end since Trump agreed to stop hostilities in a trade war between the world's two largest economies in December seem closer to an agreement. global market than ever before, he said.

If they can not finish their work before March 1, the deadline after which Trump said that he would double customs duties on Chinese shipments by $ 200 billion, or 25 per cent, and would increase customs duties of $ 267 billion additional imports of the country. ready to wait a little longer.

"It is possible that I extend the date," he told reporters. "And if I do, if I see that we are about to reach an agreement or that the agreement is going in the right direction, I will do it at the same rates as we are currently asking for. would not increase. "

That would be an asset for Wall Street, which broke its records in 2018 when the president set up a protectionist strategy that included not only Chinese levies, but also double-digit rights on steel and steel. aluminum and the threat of tariffs on automobiles and their parts.

Economists and business leaders warned that the costs would raise prices and hurt consumers, who spend about two-thirds of the US $ 20 trillion economy. Although few argue that China has treated the United States unfairly, restricting access to its markets and imposing trade secrets on companies seeking secrecy, it believes that the use of tariffs may be more damaging as the initial problems.

"Financial markets remain relatively nervous about a series of risks to global growth, including protectionism," said Barclays economist Shawn Golhar, who suggested that new tariffs could undermine business confidence and consumers, which would slow down growth. has generally been a positive point for the White House.

"Unsurprisingly, Trump should" build more land "when the March 1 deadline will be met and extend the 60-day US-China talks," said Chris Krueger, an analyst at the Cowen Washington Research Group, which follows federal policy over the last four decades.

This will benefit the government of President Xi, who can bet on a more receptive White House if Trump's campaign for a second term fails to defeat an average approval rate of 40% or less.

"All that brings the new deadline of the 2020 elections closer is good news for Beijing," said Krueger, pointing out that he "continues to play the game even better."

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