fbpx

Trade war begins .. Declaration of the first list of tariffs Trump customs on 34 billion dollars of Chinese imports .. Experts: a dark day for global trade .. And analysts: the conflict will hit the markets and paralyze international trade

For years, talk of a commercial war was just words, some ruled that the day would come when the war was over and they said it was all a hoax, but the Washington Post said that with the end of America’s Independence Day celebrations, China, where government leaders kept telling the people that they had not started this war, but would resist.

Trump’s first tariffs are expected to hit 34 billion US dollars of imports on Friday, and China plans to respond quickly to the duties imposed on equal goods. Chinese border officers could be ordered at midnight to place new taxes on hundreds of US goods, including pork, soybeans, corn and poultry.

An unprecedented trade battle between the two world’s biggest economies, a conflict that analysts fear will hit markets, disrupt trade and undermine relations between the United States and China, comes as the US administration seeks Beijing’s cooperation in North Korea.

As the global business community watches the clock, China moves to hold Trump responsible for the fallout, portraying the United States as a bullying that forced Beijing to confront him. An editorial in a Chinese government newspaper this week described the “dictatorial determination” of America as a global threat, China will never make a first strike.

The Chinese Foreign Ministry spokesman told reporters on Wednesday that as long as the US side has drawn up its own tariff list, China will respond with all necessary measures to protect its legitimate rights and interests.

The Chinese measures will target those who came to the White House to the White House, farmers in central-western states who fear losing their access to the Chinese market and paying the excess production bill.

Analysts note that speculation remains open to what will happen in the next phase as both sides have vowed not to back down, and George Watuk, former head of the European Union’s Chamber of Commerce in China, expected Friday to be a dark day for world trade. He said there was uncertainty over companies, supply chains and investment plans, and American companies in China were talking about an increase in random inspection of ports.

One Chinese manufacturer said that on average, the Chinese authorities used to inspect 2 percent of the buses they send out. But since last month, customers have been looking more closely at each product.

“You do not expect the war to be declared and a blow to the tariff, but the real battle will be on the wings, in unnecessary inspections, product isolation and increased regulatory scrutiny,” says James Zimmerman, a partner at the Beijing Office of International Law.

Other analysts say the supply chains will suffer a blow, pointing out that the first set of US tariffs will hit companies in the technology sector, and one analyst likens it to a war in which everyone arms for themselves.

The conflict over US-China trade has been brewing over the years, but it has increased rapidly this year. In April, the United States issued a list of proposed tariff targets on 50 billion US dollars worth of Chinese goods, aimed at industrial and technological products.

Leave a Reply

shares
%d bloggers like this: