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Customs duties. It seems to be a complicated language wringer, but this epiphora perfectly describes what happens in commercial war between Washington and Beijing . Yes, since from Friday, July 6 will be triggered the new measures imposed by the Trump Administration on the price of 34 billion products of Chinese import.
The economic recipe adopted by ] The United States aims to increase the price of goods manufactured in China in order to reduce imports. This should increase the country's domestic demand for US-made goods and put the US economy back on track, boosting work, creating new jobs, reducing unemployment and increasing product gross domestic product (GDP). ) national. The United States has also taken these economic measures for European goods, heavily taxing a portion of imports from the old continent.
Beijing, however, did not remain to watch and attempted to shelter, using a real counter-offensive. American economic action. Indeed, China imposed a 25% tax on hundreds of products from the United States, including agricultural products such as soybeans, cars or whiskey. An economic countermeasure that should significantly reduce the demand for goods manufactured in the United States.
Unlike the United States, however, China continues to look for substitutes that are worthwhile to replace US imports. The greatest difficulty concerns the consumption of soybeans . Not only because of the inevitable increase in the price of this product, which will arrive in the coming weeks, but mostly because no other country is growing enough soy to meet the domestic demand of the Chinese people. Analysts predict that there will be a shortage of soybeans in China over the next few years, precisely for this reason. In fact, China imports annually about 95 million tons of soybeans, which are used for animal feed and cooking oil production.
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