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The trade war between China and the United States is a fact. For a long time, there was a threat, Friday morning, the threats of Trump at the beginning became reality. The United States has imposed import duties on Chinese goods worth $ 34 billion. An additional 25 percent tax is levied
China had already announced that it would immediately repay by similar measures. China imports less from the United States than the other way around, but can still impose heavy taxes on products exported from the United States to China.
When China retaliates, America intensifies
. 106 products that would fall under these fees. This includes cars, corn, soy and beef, small planes, chemicals and tobacco. The list represents about $ 50 billion, the exact amount that Trump has stated that he will collect the fees.
China should first introduce US $ 34 billion worth of goods taxes. But Trump said yesterday that the first wave will be followed in two weeks by another 16 billion, or $ 50 billion.
Staarwedstrijd with serious consequences
The two countries are fighting in the end to the same amount. Countries are at a dead end where the big question is who blinks first, takes a step back and avoids a big conflict.
China does not seem to do it, nor Trump ni. The US president told reporters Thursday that he would not stop at $ 50 billion, if China did not bet. Trump said that he had temporarily suspended $ 200 billion in additional taxes, after which it is still possible to import another $ 300 billion.
That's 500 to 550 billion dollars, which is about the amount of goods. that America imported from China last year. That was $ 506 billion in 2017. Trump blames China that the trade surplus between the two countries is far too big: China exports $ 375 billion more to the United States than it does to the United States. she does not matter.
RTL Z explained earlier how China can respond.
A trade war, not a trade war, but a trade war
In March, the threat of the announcement of taxes on steel and aluminum began. Trump wanted to attack the "unfair trade". Most countries have been excluded, but China would be completely affected. Then it was again and again with additional rate threats.
And then suddenly the brake was applied. In late May, America said that it had negotiated to resolve the conflict, the trade war was just waiting. China would have promised to reduce the trade surplus and to import more US products. But in mid-June, the hatchet was dug up and the trade war was revived.
America first, but does it work?
All that happens to protect the American industry, says Trump. But while the business community is generally satisfied with Trump's protectionist policies,
American aluminum producers, energy companies and automakers are worried. They fear the insecurity and countermeasures of the trade war. In some cases, they no longer accept new people and make big expenses.
The effective introduction of taxes is expected to have significant effects on global supply chains. It ensures that businesses and consumers are faced with rising costs and that the stock markets tighten significantly. In a disaster scenario announced by the Nederlandsche Bank in June, the trade war in the Netherlands could cost up to 10 billion euros of economic growth in the next two years.
Trump launches the trade war, observes Roderick Veelo.
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