Trump steps up trade dispute with China

The United States is escalating the tariff dispute with China, paving the way for a new round of global trade disputes. US President Donald Trump threatens to impose additional duties on an additional $ 200 billion of products, according to a Washington government list. An additional 10 percent of these imports are to be imported into the United States, including food products, coal and consumer electronics. According to government circles, the rates will only take effect in two months: before that, there would be an opportunity to comment. China has criticized US plans as unacceptable. The People's Republic is shocked and will have to respond, said the Ministry of Commerce.

The Beijing government will immediately file a complaint with the World Trade Organization (WTO). China is also calling on the world to rise up against commercial harbadment and to protect the rules of free trade. Trump's trade representative, Robert Lighthizer, defended the US line. For more than a year, the government has been calling on China to end an unfair trade policy, open its own market and face competition. Instead of addressing these concerns, China responds: "There is no justification for such a change."

The Washington government imposed additional duties on Chinese goods worth $ 34 billion last week, with China reacting with countermeasures. Previously, the United States had already sealed protective tariffs on steel and aluminum from foreign competition. Steel and aluminum appear again in the new list, which should further increase the price of these imports.

The trade dispute with the EU could also intensify if additional US tariffs apply to European cars. German Federal Minister of Economy Peter Altmaier (CDU) wants to advertise during a visit to Paris that Germany and France are acting together in the conflict with the United States. The politician of the CDU said in the ARD that it was to support the European Commission negotiations and avoid a trade war. The US ambbadador to Berlin, Richard Grenell, had offered the bosses of BMW, Daimler and Volkswagen a solution in the conflict, which is tantamount to a removal of tariffs. Chancellor Angela Merkel is ready to negotiate with the EU. The condition is however that the scheme be applied to all countries with which the EU exchanges cars. US plans sent investors to the stock markets.

The President of Foreign Trade, Holger Bingmann, expected a new tightening of the transatlantic trade conflict. "The US government's crackdown on China does not bode well for the EU because it suggests that President Trump is ready for escalation," Bingmann told our editors. "It is reasonable to badume that the United States will continue to intensify towards the EU in the near future and, in response to the EU's countervailing measures, will also introduce additional rights on cars. and auto parts, "he warned. "What started once with steel and aluminum can continue to expand and affect non-participating industries." Foreign traders understand the voices of the government and the EU, who now want to challenge with confidence and trust Mr. Trump. "A better solution, however, would be de-escalation and further discussions on the fundamental dismantling of trade barriers between the EU and the US," said Bingmann. [ad_2]
Source link