The United States unleashed a trade war with China

The United States unleashed a trade war with China

The President of the United States Donald trump changed course and decided to introduce in June a 25 percent customs duty on imported from China goods worth $ 50 billion. This is stated in the message of the White house.

The tariffs will apply to imported from China goods that are associated “with significant industrial technologies,” including program “Made in China 2025”. The final list covered by the import duties will be announced up to 15 June 2018, follows from the statements.

In addition, the White house promises to introduce targeted restrictions on investment against individuals and companies from China, which are also associated with the “acquisition of important industrial technologies.” The list will be submitted on 30 June.

The newspaper the New York Times noted that trump abruptly “changed course”, as he was stung by criticism due to the fact that he softened towards China. Another reason the newspaper calls the ideological struggle against the “economic nationalists” who hold protectionist views, and more “mainstream advisers”, who fear that the rates and restrictions would be detrimental to the market.

May 20, China and the United States reached agreements on the issues of economy and trade, promising to unleash a trade war. Following the meeting, the parties agreed to stop and introduce protective tariffs against each other and strengthen cooperation in such fields as energy, agricultural products, healthcare, high-tech production and Finance.

18 may it became known that China has proposed a package of measures to reduce the trade deficit of $ 200 billion.

Relations between the US and China has escalated this year after the us imposed protectionist measures affecting Chinese goods. One of the reasons was the high level of trade deficit. After that the parties impose on each other a number of trade restrictions that have caused concern in Washington and in Beijing.