China has started to impose tariffs in retaliation after the launch by the United States of a trade war (Photo -. AFP)
China, which accuses the administration Trump for having launched “the biggest trade war in economic history”, has filed a complaint Friday with the WTO to challenge the entry into force of the u.s. tariff of 25% on $ 34 billion of chinese imports.
customs duties, punitive, Beijing had promised “not to shoot first” but warned that “to defend the fundamental interests of the country and its population”, she would be compelled to retaliate.
american products After he announced the immediate implementation of customs duties of 25% on an amount “equal” to american products, the ministry of Commerce announced on Friday that the appeal to the world Trade Organization (WTO).
This is the second complaint in the important case of commercial disputes with Washington since the asian giant has already challenged the imposition in march of punitive taxes of 25% steel and 10% aluminum.
The new us tariff, officially entered into force at midnight, Washington time (04: 00 GMT), affecting 818 chinese products, including automobiles, hard drives, or components of aircraft.
A second lot of tax on $ 16 billion of imports will enter soon into force, was recalled on Thursday, Donald Trump, referring to a period of “two weeks”.
– “Buy chinese” –
In total, $ 50 billion of chinese imports annual that will be affected by the us measures, designed to compensate for the administration’s Trump considers to be the “theft” of intellectual property and technology by China.
The United States should not stay there because Donald Trump might bring to the 450 billion of the value of chinese goods taxed, the vast majority of imports from the asian giant (505,6 billion in 2017).
Paradoxically, it is these same trade tensions which have brought down the trade deficit of the United States in may to 43.1 billion, its lowest level since October, 2016.
Because the prospect of new taxes has increased almost 90% in the exports of soybeans to China.
“The deficit is expected to fall further in June before a likely strong rebound in July, when the exports of soybeans will plunge,” said Ian Shepherdson, economist at Pantheon Macro.
For months, the prospect of a trade war fear of a sudden stop of trade in goods across the planet, the current engines of global growth.
The chinese Prime minister Li Keqiang, currently in Bulgaria, warned Friday that a “trade war benefits no one”.
In the streets of Beijing, consumers worried about a possible price increase due to taxes on u.s. products. So far, they say they are in solidarity with the authorities.
“I will do my best to buy chinese”, has testified to the AFP, Mr. Yang, a customer of a supermarket pecking.
On the american side, the federation of retailers said that many products sold in the United States could see their price increase, “the students, who must pay more for the mini-fridge that they will need in the university in the fall”.
– What are the consequences ? –
This confrontation with Beijing is far from isolated. Since the beginning of the year, Donald Trump has stepped up protectionist measures against its trade partners and its allies, provoking exasperation and concern.
The White House also requires that from 1 June tariffs on imports of steel and aluminum from Canada, the european Union, Mexico or the Russian federation which have brought the matter before the WTO.
In the wake of these same countries, Moscow announced on Friday the introduction of surcharges on a series of american products in response to tariffs imposed on steel and aluminum.
The majority of the experts warn against the potential damage of such a policy, not only on the american economy, but also on the global economy.
American companies have stated that they felt the impact already, with a rise in prices. Others have posted their fears on to their market shares in China.
These warnings have left in marble for Mr. Trump, who had swept the arguments Tuesday in a tweet. “The economy is probably much better than in the past, before we will settle the problem of the agreements, unfair trade concluded with each country,” he estimated.
On the chinese side, “the trade war will slow down the growth of the chinese GDP by 0.2 percentage point” in 2018, said an official of the central Bank, considering, however, the impact “limited”.