USA / China: Trump again attacked
While negotiations had resumed on 30 June between the United States and China, Donald Trump, as usual, took everyone short by tweeting that by 1 September he would impose a surcharge of 10% on 300 billion Chinese imports.
The trade war between the United States and China took over with Trump's devastating tweet. Having still failed to secure a satisfactory trade agreement with China, the US President did not hesitate once again by announcing the introduction of a 10% surcharge for the 4th product list.
This time, this much dreaded 4th list may well be taxed at 10% on 1 September. This concerns almost all goods: food products, clothing, household appliances, electronic products...
China soon reacted to this announcement: the Chinese Foreign Minister said that if Washington applied this surcharge, it would take reprisals. He added that«imposing customs duties is in no way a constructive way to resolve economic and trade frictions». But it's Trump's method of folding his opponent.
An official announcement from the U.S. Ministry of Commerce is expected to follow in the next few days, unless Beijing bends back and a trade deal is finally emerging...
Source(s): www.lesechos.fr