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PEKING (dpa-AFX) – The trade dispute between the United States and China has reached a new level of escalation. After the entry into force of US tariffs on Chinese imports, China claimed to be forced to a "necessary counter-attack". The spokesman of the Chinese Ministry of Commerce said Friday that the United States had inaugurated "the biggest trade war of economic history".
At midnight Washington time, US special taxes were 25% on Chinese imports. US dollars came into effect. The Chinese Ministry of Commerce had announced in this case in advance retaliatory measures of the same amount. According to the ministry spokesman, the People's Republic wants to inform the World Trade Organization (WTO) of the situation.
With this first round, the two largest economies are heading towards a potentially heavy trade war for Germany, Europe and the global economy.
US President Donald Trump had made it clear that he would be ready for further escalation in case of Chinese retaliation. It threatened tariffs on Chinese imports of more than half a trillion US dollars, which would affect all of China's exports to the United States.
First, the $ 34 billion fee would be used. Hours before the entry into force. "And then we still have 16 (billion) in two weeks," he added. "And then, as we know, we are still 200 billion, and after the 200 billion, we are fixed at 300 billion."
Economists fear that the conflict between China and the United States will become an uncontrollable trade war. The International Monetary Fund (IMF) estimates that the trade volumes affected, at least for the moment, are too small for them alone to cause major problems for the economy. World. However, fears of market uncertainty and a growing spiral of escalation are to be feared.
Donald Trump's campaigns against his country's trade deficit represent more than $ 800 billion on several fronts. He also denounced the neighbors of Canada and Mexico as well as allies such as the European Union countries with punitive tariffs on steel and aluminum. On this side too, retaliatory tariffs have already been put into effect. / Lw / dm / DP / jha
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