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US President Donald Trump has already threatened to introduce an additional fine of 10% on Chinese goods worth $ 200 billion. On Wednesday, confirmation from the United States occurred to produce a list of products to penalize.
A Domino Game
The preliminary overview also includes Chinese seafood.
– If the United States Now Introduces Sigmund Bjørgo, Director of the Norwegian Seafood Council in China
Last Friday, China introduced a 25 percent penalty for seafood.
First Decision for trade in seafood, and may lead to unhealthy consequences for the global seafood market. "
China exported seafood for 169 billion kroner last year. United States was the second largest buyer of Chinese seafood – after Japan, with about 15%.
Bjørgo is worried about what's going on – also for Norwegian seafood exports. [19659005] Short-term duty rate increase A large part of Norwegian whitefish is processed in China before being exported to the US With the increase in tariffs, the demand for Norwegian whitefish TRANSFORMATION in China could be reduced in isolation. At the same time, the US market will seek more seafood from countries other than China, and Norway is the world's second largest exporter of seafood. "
– It is too early to play a key role, said Bjørgo. to say how this domino game will end – for both Norwegian, Chinese and American seafood. But it is clear that uncertain framework conditions for global seafood trade are disrupting the Norwegian seafood industry. Norway exports 95 per cent of all seafood produced. We are dependent on open markets and predictable framework conditions, "said the director of the Norwegian Seafood Council in China
– Chinese Revenue Action
– The latest criminal act comes on top of the criminal record of 25 % and will increase to $ 50 billion in July China has reacted with the same coin, and that is why the United States intensifies the trade war.
– Instead of responding to our concerns, China has launched a revenge against US products.It can not be justified, "said Robert Lighthizer, the US Trade Representative and responsible for implementing trade policy in a statement.
The preliminary list includes food, chemicals and electronics. The list is due to an audience in the United States, but the US trade lobby is very critical of what is happening.
– The president broke promises to inflict on China maximum pain and minimal pain for consumers. There are American families who are punished. Consumers, businesses and US jobs that depend on trade are at the crossroads of a global trade war, "says Hun Quach of Retail Industry Leaders Association, in a comment to Reuters.
The greatest threats since 1930
wait in Asia. The Nikkei index on the Tokyo Stock Exchange fell two percent at the opening, but took something during the morning. Shares of Shanghai, Shenzhen and Hong Kong fell by more than 1.3%
The course of Li & Fung trading company, which serves as an intermediary between Chinese and US factories, dropped by 4% and is the lowest since 2001 on the Hong Kong Stock Exchange
A number of other Chinese companies have dropped more than five percent, including Hunan New Wellful and Shandong hog farming company. Denghai Seeds. The price of copper has fallen by four percent and is at the lowest level of one year in Asian trade.
"World trade faces the most serious threat since the United States introduced Smoot Hawley Customs in the 1930s. Chinese Trade Department Director Stephen Kirchner writes to the Faculty of American Studies of the University of Sydney in a chronicle
according to the Chinese Department of Commerce, which states that China will take countermeasures. )
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