The Recycler
  • Biuromax Web banner June 2022
  • G&G Masthead June 2023
  • Katun web banner December 2022 NEW
  • Static Control June 2022 Masthead Ad

Beijing trades tariff blows with Trump

September 19, 2018

Just as forewarned, China has responded to Trump’s additional tariffs with its own hefty set of duties on $60 billion (€51.2 billion) worth of US products.

As the South China Morning Post reveals, China has retaliated to new US tariffs by “announcing its own additional duties on $60 billion (€51.2 billion) worth of American imports” in the latest stage of the bitter US-China trade conflict.

The new tariffs, set at 5 and 10 percent, which take effect next Monday, the same day America’s tariffs on Chinese imports will come into force.

Trump has reacted with vitriol to Beijing’s counter measures.

“China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me,” he wrote on Twitter.

Geng Shuang, spokesperson for the Chinese foreign ministry, explained that Beijing “could not accept the ‘unilateral trade action and protectionism’ of the US” and stated that the US should demonstrate “sincerity or goodwill”.

With economists predicting a drawn-out battle between the two global superpowers, Nick Marro, who works as an analyst at The Economist Intelligence Unit has observed that “there is a high risk for further escalation” in the conflict.

Meanwhile economist Alicia Garcia Herrero has said that some European companies could stand to benefit from the tensions.

“If the European Union were obliged to take sides, the US market [would] continue to be more relevant for Europe,” she explained. “Beyond Europe’s historical alliance with the US … European exporters have more to lose from the US, which will not help China lobby European governments to remain open to China.”

 

Categories : World Focus

Tags : China Commerce Economy Tariffs Trade War USA

  • Biuromax Big & Bold April 2023
  • Static Control June 2022 Big & Bold Ad
  • GPI Big & Bold June 2023
  • IR Italiana Web ad January 2021
  • Apex web advert May 2023
  • Mito Web Ad March 2023
  • Ink Tank Big & Bold Banner June 2023
  • Ninestar Web advert Feb 2023
  • GM Technology June 2023 Banner
  • Aster June 2023 Big&Bold
  • PCL Web Banner May 2023
  • ITP Web ad January 2021
  • HYB October 2022 Web banner
  • Armor web banner June 2023
  • CET Web Ad Jan 2023
  • Zhono Web Banner May 2023
  • CTS New Ad March 2022
  • PCL Web Banner May 2023
  • CET Web Ad Jan 2023
  • Zhono Web Banner May 2023
  • HYB October 2022 Web banner
  • ITP Web ad January 2021
  • CTS New Ad March 2022
  • Armor web banner June 2023
  • HYB October 2022 Web banner
  • PCL Web Banner May 2023
  • Armor web banner June 2023
  • Zhono Web Banner May 2023
  • CTS New Ad March 2022
  • ITP Web ad January 2021
  • CET Web Ad Jan 2023

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark

The Recycler Subscribe Web ad January 2021
The Recycler Subscribe Web ad January 2021