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New US tariffs on imports from China came into effect and Beijing speaks of "the greatest commercial war in history". Experts warn of disastrous consequences for the global economy
The United States imposed a 25% tariff on $ 34 billion worth of equipment, electronics and equipment. advanced equipment made in China, including the automotive sector. Beijing should react with similar measures, describing it as "the biggest commercial war of economic history".
China has announced that it is "obliged to take the necessary retaliatory measures". But the spokesman did not specify the nature of these measures, but Beijing had already pledged to take similar measures by imposing parallel duties on products imported from the United States.
The Chinese Ministry of Foreign Affairs said that the US stage "a model of intimidation Gary" that can lead to "confusion in the global markets." The Ministry of Commerce will raise the question with the WTO and will work with other countries to "protect free trade" while Trump is in trade conflict with several historic allies in his country.
Chinese rights are supposed to include agricultural products The spokesman of the Chinese Ministry of Commerce, Gao Feng, said on Thursday that "China would not succumb to threats or blackmail."
Trump referred to a second package of Taxes on the value of 16 One billion dollars of Chinese imports are still under study by the government For the US trade Robert Aathaysr is expected to come into force "within two weeks." [19659002] P Ekin also intends to charge for a total of $ 50 billion of US imports. Trump has also expressed its willingness to tax $ 200 billion of additional products "if China further raises its tariffs" in response to US stocks.
So these measures will bring to 450 billion dollars of Chinese products that will be subject to the taxes of the vast majority of imports from the Asian giant (505.6 billion dollars in 2017) [19659002] Experts warn of months of potential damage to a similar trade confrontation not only in the US economy but also in the global economy.
US institutions had informed the Fed that they had begun the impact of taxes being felt through price increases and "the decline or delay of investment projects due to concerns about trade policy, "according to the US Central Bank at its last meeting in June. The United States Chamber of Commerce estimates the value of US exports at about $ 75 billion.
Six states, including Alabama, Michigan, Pennsylvania, North Carolina, and Wisconsin all voted for Trump. In the presidential election of 2
But the US president on Tuesday ignored these warnings that "the economy" could be at best "balanced" before changing some of the worst trade deals and the most unjust ever concluded by a country. "
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. US Secretary of Commerce Wilbur Ross said Thursday that expectations of a slowdown in US growth were "anticipated and likely inaccurate."
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