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The trade dispute between China and the United States after the entry into force of US tariffs on Chinese products came into effect on Thursday night.
While President Donald Trump pulls the trigger to unleash a spark The trade war between the two largest economic powers in the world. For its part, China is committed to responding "immediately".
Experts have warned that retaliation between the two countries would be a shock to the global economy and hit the global trading system to heart. While German Chancellor Angela Merkel has shown herself willing to negotiate tariff cuts in the light of the dispute with the United States
the United States will charge 25% on more than 800 categories of Chinese products. worth $ 34 billion,
Trump threatened to worsen the trade dispute by imposing tariffs on Chinese goods of $ 450 billion if China reacted and the conflict shook the financial markets, including equities, currencies and global commodity trade. China should react immediately after the entry into force of US tariffs by charging products of the same value, but by putting more emphasis on agricultural products, which are politically sensitive. China warned that the United States "opened fire" on the world with its tariffs threatening to impose it, and said it would react immediately after the entry into force of the measures in the context of tightening Beijing's tone. In his bitter commercial dispute with Washington.
China said that it "would not shoot the first bullet", but the Chinese customs, said yesterday, that Chinese tariffs on US goods, will be applied immediately after the introduction US tariffs on Chinese products. The Ministry of Commerce spokesman, Gao Feng, warned at a weekly press conference that the expected US tariffs would hurt global supply chains, which include foreign companies in the second largest economy of the world
. Will effectively impose tariffs on companies from all countries, including Chinese and US companies. "
" US stocks are essentially attacking supply chains and global value. In other words, the United States opens fire on the whole world, including itself. "China will not succumb to threats and blackmail and will not shrink from its resolve to defend world trade and the multilateral system."
In response to the question of whether "quality measures" would target firms in China "We will continue to evaluate the potential impact of the US trade war on businesses and help these companies mitigate potential shocks," he said.
China plans to impose duties on hundreds of US goods, targeting some of America's largest exports Including soybean, sorghum and cotton, threatening US farmers in states that supported Trump, like Texas and Iowa.
Gao noted that among the $ 34 billion worth of US goods are worth about $ 20 billion worth of goods, which is about Equivalent of the two ti ers listed products, is made by foreign investment companies, of which US companies are "an important part". [19659002] The last sign of the impact of tariffs changed on Thursday.
But the Trump team did not pay too much attention to these warnings, as he described The American Trade, Wilbur Ross, is "premature, maybe even inaccurate ".
Trump said in a tweet during the week that the economy "could be at its best", even before "some of the worst trade deals, A state of everything."
Under the slogan " America First, "Trump was also targeting other traditional trading partners of the United States, such as the European Union, Japan, Mexico and even Canada
The German Chancellor Angela Merkel, yesterday, in the capital Berlin, after talks with Hungarian Prime Minister Viktor Orr "A common European position on the negotiation of tariffs in the automotive sector is necessary, for example."
The German Chancellor said: "Thus, tariff negotiations mean a reduction in taxes, which I would be willing to do only with the United States. "
An agent who violates the rules of the World Trade Organization, Merkel stressed the need that to happen with all the countries that share with Europe in the car trade
19659002] In turn, IMF President Christine Lagarde warned of the entry into the cycle of retaliation Stressing that this will only create "losers on both sides."
Economists warned of months of potential damage to the United States and the global economy as a result of hostile and protectionist trade policies Global markets are shaken
Global Risks
The World Trade Organization warned yesterday that trade barriers created by major economies could jeopardize global economic recovery and that the effects of these barriers has already begun to emerge.
Tensions increased, after a Chinese court temporarily banned Micron technology
A US industrial source said: "There is a 99% probability of starting customs duties on Friday. "
An American industrialist said:" There is a 99% probability of starting tariffs on Friday. "
" Frankly, I do not know what measure China will take now, and prevent United States to charge fees, "said the source, adding that there was no evidence that there was any real contact between the two governments at this time. "A senior Western diplomat told Reuters that there was no sign of action
400
Manufacturers have warned that many jobs would be lost in companies producing cars, parts, equipment and other products that depend On imported components, a study suggested losing nearly 400,000 jobs in the United States.
The Chamber US Commerce said retaliation costs affected US $ 75 billion in exports and threatened jobs Capital Agencies
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