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China responded to US tariffs imposed by US President Donald Trump on its exports to the United States, taking advantage of the worsening trade dispute between the two largest economic powers in the world. The World Trade Organization (WTO), hours after the two countries imposed mutual export rights worth tens of billions of dollars.
China regards the United States as the "biggest trade war of economic history" 25 percent of its value $ 34 billion worth of Chinese goods, including cars and parts used in manufacturing aircraft or computer hard drives, but excludes mobile phones or TVs.
On the impact, the Chinese Ministry of Foreign Affairs announced its entry into force.
Experts warn of months of possible damage to a similar trade confrontation not only in the US economy but also in the global economy that threatens to halt economic growth for years.
Friday showed trade data US exports more than doubled after importers doubled their purchases, especially US soybeans, to raise tariffs before the entry into force of prices.
Experts say that calm is pre-storm, In the third quarter of this year, after the two sides have talked about the effects of the deterioration of trade relations.
The new fees may be just a prelude to the trade war, especially as Trump promised to evaluate Chinese products that will be taxed $ 450 billion, Labor Imports [2016] That would increase existing differences with Canada, Mexico and the European Union, which could worsen if it decided to proceed with the imposition of additional car costs.
The Chinese government has said "I have filed an additional complaint to the World Trade Organization … regarding the charges officially imposed by the United States."
Talks between the two economic powers, including within the World Trade Organization, seem to have failed Washington is ready to escalate the conflict, with an additional charge of hundreds of billions
Trump denounced to several times what he considered as a bad economic treatment of the United States by China
In 2017, the US trade deficit with China reached 375.2 billion dollars.
US authorities accuse China of building its industrial hegemony by theft
Despite warnings of the impact of cartoons on the United States, Trump believes that the US economy can emerge victorious from this battle.
China says its economy is able to overcome The crisis will focus on domestic demand and facilitate exports.
A Chinese central bank official said Friday that "the trade war will slow Chinese GDP growth by 0.2 percent" in 2018, but said that with US products valued at $ 130 billion, China has announced that it will deny "quantitative" and "qualitative" rights to US products, raising concerns about the disruption of China-based companies. Beijing accused the United States of attacking the world by force
Chinese Premier Lee Keikiang, visiting Sofia, said that "a trade war will not benefit anyone because it night to free trade and multilateral operations ".
Global markets reacted calmly, but rose rapidly, with the US stock market posting gains from rising employment and lower fears in Asia and Europe, at least for the time being.
On goods Russia announced Friday the imposition of additional tariffs on a series of US products, in response to US tariffs on steel and aluminum, at the edge of A world trade war.
(Reuters) – The Federal Reserve has warned that the trade dispute has begun to affect the US economy, which has been recovering for 10 years,
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