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Bisnis.com JAKARTA – US President Donald Trump threatens impose tariffs on all imports China in the United States after the two world economic powers traded the first tariff on a trade war that was not shown over.
After a month of homage, 25% duty on US $ 34 billion (19659003) China immediately retaliated by taxing US shipments, including soybeans and motor vehicles
Both do not show no sign of receding. Trump is already overseeing advanced rights on Chinese consumer goods worth $ 16 billion and says total duties could exceed $ 500 billion, nearly as much as US imports by 2017.
Chinese Commerce Minister, Gao Hucheng, "The first US-targeted tariff in China will increase Trump's support, which agrees with the argument of" l & # 39; America first "Trump that Beijing has not been just so far, stole American intellectual property
However, the risk of an increasingly complex conflict will affect economic growth American by tainting international supply chains and causing price increases for businesses and consumers. [19659049]
The US Federal Reserve has registered a number of companies beginning to do business. 39; investment object, plus the company Harley Davidson Inc. and General Motors Co. With the increasingly strong trade war between the United States and China, the financial markets are progressing. US stocks have skyrocketed and the US dollar has continued to weaken. Treasuries rose and gold remained in free fall as investors still weighed the impact of the trade war.
A few hours after the imposition of tariffs, the United States published labor statistics. Recruitment data in the United States exceeded expectations in June. "June's job data shows that there is no evidence that a trade war has hurt American industrial and economic sectors," said Kevin Hbadett, chairman of the advisory committee. The US economy, quoted by Bloomberg on Saturday 7/7/2018, contradicts the idea that US employment data is under pressure from the trade war.
The disadvantages of the economic sector will depend on how the United States and China go on to a trade war. If the US and China decline after the first set of fees, the losses will not be too large.
Economic Growth
With the tension of the 10% trade war in all other countries and the response of these countries, some economists believe that US economic growth will slow at 0.8% by 2020.
Trump has lowered its tariffs on foreign imports of steel and aluminum, sparking an EU response and Canada is concerned that Trump is no longer targeting the auto manufacturing sector.
"We consider that a trade war is not the solution.There will be no victory and no one will benefit," said Chinese Premier Li Keqiang . Bilateral trade worth $ 336 billion with China and importer more than ever, giving a slight initial profit in the United States.
Trump declares that the trade war would be easy to win and bet that the trade war would trigger US operations in the United States
First Round
In the First Round , China's additional tax on US products will have an impact on a number of sectors, reducing the risk of weak sales. For example, tariffs on electric generation, like Tesla, will increase by 40% compared to the current of only 15%.
Whiskey, a type of alcohol, the United States will be taxed 30%, compared with 5% for other state's alcoholic beverages. US soybean, key point of the deterioration of trade relations between the United States and China, will be boosted by tariffs of 28%, while the taxes on soybeans for other countries were abolished a few years ago. years. US companies like Apple Inc. and Walmart Inc., which operates in the Chinese market and will expand
China will introduce penalties such as customs delays, tax audits and increased regulatory oversight, and even more drastic measures such as than the devaluation of the yuan or $ 1.2 trillion.
Beijing has shown little interest in making any changes to its business model. Chinese President Xi Jinping does not respect US demands to stop subsidizing Chinese companies as part of his plan to make China the technology leader by 2025.
The The power and economic importance of both countries means that it will last a long time. ] (d, s, id) {var js, fjs = d.getElementsByTagName (s) [0]; if (d.getElementById (id)) returns; js = d.createElement (s); js.id = id; js.src = "http://connect.facebook.net/en_US/all.js#xfbml=1&appId=735125016503599"; fjs.parentNode.insertBefore (js, fjs);} (document, 'script', 'facebook-jssdk');
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