USA / China: New Round in Trade War · Global Voices
|
Theme: |
International trade |
|
Country: |
USA / CHINA / WORLD |
Tuesday, August 7, 2018, the Trump administration released a new list of 279 products originating in China taxed at 25%.
These new customs duties will apply from 23 August and will include motorcycles, tractors, railway parts, electrical circuits, motors and agricultural equipment.
Despite this new measure, only 10% of products imported from China are subject to additional customs duties to date. But this is not to mention the new list in preparation on the US side with more than 6300 products (cf.United States / China: list of overtaxed products in preparation) !
In the end, the United States would tax almost all Chinese imports, no longer at 10% as initially announced, but at 25% as recently requested by the President of the United States.
As usual, the Chinese President soon replied by announcing the introduction of the surcharges ranging from 5% to 25% on approximately 5207 products « made in USA »for an overall import value estimated at USD 60 billion.
Xi Jinpingadded that this countermeasure would be « suspended from actions of the United Statess » and he would not hesitate to adopt others.
The release of the June US trade balance figures added oil on fire...
In spite of protectionist policy, the US trade deficit increased again and now exceeds USD 46 billion.
As a result, the decrease in exports (-US$1.5 billion) due to the retaliatory measures undertaken by the various trading partners following the surcharges imposed by Washington on steel and aluminium (cf. World trade: how far will American protectionism go?) and the rise in imports.
As for the deficit with China,continues to grow to 32.5 billion USD... While in Beijing the results are rather positive, Chinese exports grew by more than 12% in July 2018 And nothing really seems to stop this dynamic!
To go further...
- Contact our experts in global supply chain management to design and manage your import/export and cross-trade scenarios!
- Check out our service offer dedicated to triangular trade operations.
To read more
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce tortor lake, ornare dictum odio no, mollis tincidunt mi. Vivamus feugiat turpis ac consequattrices. Nam nec leo in nisi posuere vehicula. None porta tempus feugiat. Praesent shovel, urna sed placerat sodales, ex tellus ultricies velit, vitae auctor augue diam at quam. Praesent ornare arcu and sem curriculum molestie. Morbi congue arcu velit, a laoreet torture ultricies id. Duis vulputate lacinia magna, eget elementum mi pulvinar eget. Sed consectetur malesuada ultricies. In eget purus nect velit sodales ullamcorper eget in ligula. Mauris ulcers posuere lobortis. Nulla nisi purus, beaconra no is ac, faucibus lacinia torturer. Integer nunc duei, vehicula finishedbus had, euismod and orci. No mollis vestibulum luctus.
Interdum and malesuada fames ac ante ipsum primis in faucibus. Sed a ligula sagittis, eleifend metus ac, sagittis purus. Vivamus ut blandit dolor, id aliquam mi. Sed tempor tempus ornare. Sed nec risus a metus eleifend sagittis. Aenean had torture lectus. Aliquam varius iaculis curriculum. Aliquam stubborn gravida augue and elementum. Aliquam trestique interdum pretium. Nunc ut selerisk massa, sed venenatis diam. No vehicula luctus odio. Integer ac turpis massa.