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In the trade dispute, US President Trump announced new punitive tariffs.
The trade dispute between the United States and China has lasted more than a year. This week, both sides spoke again for the first time. Nevertheless, Trump is now announcing new rates of one billion dollars.
Starting in September, the United States will impose a new fine of 10% on Chinese products, for an amount of about $ 300 billion (270 billion euros). This was announced Thursday by US President Donald Trump via Twitter.
The two countries – the largest economies in the world – put an end to the latest round of trade talks in China Wednesday without any visible progress. However, it was agreed to continue negotiations in Washington at the beginning of September.
Cease fire
"We look forward to continuing the positive dialogue with China towards a global trade agreement," Trump wrote on Twitter. The White House called recent talks in Shanghai "constructive". The Chinese Ministry of Commerce has talked about open, effective and intensive exchanges.
These were the first direct trade negotiations between the two largest economies since the failure of the May talks. In late June, Trump and China's chief Xi Jinping agreed on a "ceasefire" in their trade war and a resumption of talks on the sidelines of the summit. the G20 of the major economies of Osaka, Japan.
On Wednesday, the Federal Reserve lowered interest rates by 0.25 percentage points because of Trump's trade disputes, which are weighing more and more on the global economy. This was the first rate cut since the end of 2008.
Discussions resumed
The trade war between the two countries has been going on for more than a year. The initial trigger was Trump's anger over the fact that China exported much more to the United States than the other way around. He calls for the removal of market barriers, criticizes the violation of copyright, the forced transfer of technology to US companies operating in China and public subsidies.
Since then, Trump has already imposed special tariffs of 25% on half of its imports from China. China reacted with counter-tariffs. For the agreed resumption of trade negotiations, the President of the United States had in fact promised Osaka to postpone the planned increase in special taxes. However, the threat was still on the agenda.
Francis Tawiah (Duisburg – Germany)
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