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Beijing / Washington – The United States and China traded the first salvos Friday into what could become a long trade war, imposing tariffs on $ 34 billion worth of goods and giving no sign of want to begin a dialogue
Rights on a range of Chinese products imported to the United States took effect Friday and were immediately countered by measures of China, Beijing accusing the United States of triggering the "war commercial scale. According to Scott Kennedy, director of Chinese studies at the Center for Strategic and International Studies in Washington, the fight between the two largest economies in the world meant that he could "have economic and political difficulties to bring these two parties together." at the table ". Trump is already threatening a series of additional tariffs, probably targeting more than $ 500 billion worth of Chinese goods – roughly the total amount of US imports from China in 2017.
It will take weeks or months for " The key questions at this time are what will happen to the financial markets, how will US voters react, and will the Chinese economy begin to falter, "said Kennedy. 19659002] Erin Ennis, first vice-chairman of the China Business Council of the United States, said the two sides risked imposing trade sanctions without a clear strategy for resuming negotiations.
While US companies in China are in agreement with Trump's complaint about Chinese IP practices, Ennis said they did not think the tariffs would push China to submit. including cars, soy beans, and lobsters also faced 25% tariffs.
Some of Trump's Republican colleagues in the US Congress lambasted his actions
. our farmers, ranchers and aircraft manufacturers, but they also hurt all US consumers. We should work with our allies to isolate China rather than degenerate into a trade war, "said Sen. Jerry Moran, who represents Kansas' heavy state
. The soybean meal futures prices have fallen by more than 2% Friday afternoon.Most of these losses were due to the initial confusion of the market as to the effective implementation of tariffs by Beijing, which it confirmed later
. , US consumer electronics company Sonos pointed out in an initial public offering on Friday that its performance "could be seriously compromised" by trade restrictions. "The commercial war is never a solution, "said Chinese Premier Li Keqiang during a briefing with Bulgarian Prime Minister Boyko Borissov in Sofia before a summit 16 countries of Central and Eastern Europe
" China born will never trigger a trade war, but if a party resorts to an increase in tariffs, China will take steps to protect the interests of development, "he said. No sign of resumption of talks between US and Chinese authorities before Friday, according to trade sources in Washington and Beijing
The conflict has shaken financial markets, including stocks, currencies and global trade in soybean products. coal. China has filed a complaint with the World Trade Organization against the United States, its trade ministry said Friday.
Kevin Hbadett, president of the Council of Economic Advisers of the White House was "going to deliver better deals [trade]". He said that, for now, "it's called the bluff of other countries that have basically abused" American corporations and workers.
Importers of US goods hit by higher Chinese tariffs were reluctant to pbad costs on to consumers
An badysis of more than four dozen US products targeted showed that prices had changed little on Friday afternoon by report at the beginning of the week. The products, which are sold on Chinese e-commerce platforms, range from pet food to mixed nuts and whiskey.
Ford Motor announced Thursday that it would not increase the prices of imported Ford and higher margin Lincoln. models in China. However, the German automaker BMW has stated that it was unable to fully absorb the new Chinese tariffs on imported models manufactured in the United States and that it would increase prices.
US stocks rocked prices, which investors say were well anticipated.
The SP 500 reached a two-week high on Friday, partly supported by strong growth in US employment. However, investors said that a significant escalation of tension would cause concern.
Companies seeking product exclusions on Chinese products imported to the United States will have 90 days to file such claims, announced Friday
Chinese media criticized Trump's trade policy and compared Friday's news. 39, administration of the American president to a "gang of thugs".
The Chinese Ministry of Commerce has described US equities as "a violation of the rules of world trade".
Trump spoke out against Beijing for intellectual property theft, barriers to entry for US companies and a $ 375 billion US trade deficit with China.
said that US import tariffs forecast for $ 50 billion of Chinese goods – $ 34 billion plus a planned follow-up list of $ 16 billion – would reduce China's economic growth of 0, 2 percentage points, Chinese tariff schedules are heavy for agricultural products such as soybean, sorghum and cotton, threatening US farmers in states that supported Trump in the 2016 US elections, such as Texas and the US 39; Iowa.
] Reuters
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