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Berlin –
The US trade war enters a new phase, and this time the deployment is multiplying: The US government has a list of Chinese products. Worth $ 200 billion, that they could prove with new features. The Beijing government has announced "necessary countermeasures". The conflict between the world's two largest economies "damages the global trading order" and "will inevitably destroy trade between the United States and China," Chinese Vice Foreign Minister Li Chenggang warned
. ten percent on Chinese products. The measure is expected to be publicly audited in the US by the end of August, said US Trade Representative Robert Lightizer. Rates could then come into effect in September.
Last week, the United States imposed tariffs of 25% on Chinese products for $ 34 billion. Beijing immediately reacted with measures of the same magnitude. Rates on other imports from China of an amount of 16 billion US dollars, which could arrive in the next two weeks, are already announced. The government under US President Trump has also introduced special levies on imports of steel and aluminum from Europe and Canada and will test it against the Car imports from the EU at the end of July. Chemicals, textiles, metals and electronic equipment from China are affected – the 196-page list includes thousands of products, ranging from vacuum cleaners to silver spoons and windshield wipers. If the measures for another 200 billion dollars (170 billion euros) come into effect, about half of all Chinese imports would be subject to customs duties. The US government accuses China of stealing intellectual property and discriminating against US companies that have invested in the country. Beijing has "not changed its behavior – a behavior that endangers the future of the US economy," Lightizer said. As evidence of unfair trade practices, Trump applies the high deficit of the United States in trade with China. Last year, it was about $ 350 billion and has experienced strong growth in the past. Ten years ago, the deficit was $ 270 billion, compared with $ 60 billion just 20 years ago.
Up to now, the Chinese government has responded to any punitive American tariff with equivalent retaliation. In the new cycle of more than $ 200 billion, however, it would be difficult for her to repay with the same coin. Because China imports from the United States only goods of more than 130 billion dollars. Beijing must therefore find other ways to harm the United States, for example by preventing US investment in China or by proposing to its citizens a boycott of US products – a strategy that has had a significant impact on Japanese manufacturers few years ago. However, if the government does not refuse, Trump threatens to collect $ 500 billion of US imports from China.
Sanctions and retaliation add value to goods and services, reduce corporate profit margins. However, economists do not expect the global economy to suffer much from the punitive tariffs announced or imposed. However, there is a risk that the situation worsens. "The probability is high that other steps will follow," say Deka Bank economists.
On the one hand, the two parties to the conflict find it difficult to give in and face their weakness in the face of the unstable situation. On the other hand, they are not only interested in cross-border trade in goods and services. Contested is not less than the global technology leadership. The Beijing government is targeting a dominant position in many high-tech fields with its "Made in China 2025" strategy. This, in turn, is a direct attack on the United States, whose technology companies are currently world leaders. The US government does not want to tolerate this attack. At the same time "it should be clear that China can not and does not want to say goodbye to its plan," said economists Deka Bank. A "timely solution of the problem" is therefore unlikely. (with afp)
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