The victim trump: two days of trade war, the Chinese billionaires lost $50 billion

The victim trump: two days of trade war, the Chinese billionaires lost $50 billion

The statement of the President of the United States of new duties on goods from China have sharply reduced the status of the Chinese Forbes list of participants.

The nineteenth of June, Donald trump announced the introduction of an additional 10% of the total duties on imported Chinese goods worth $200 billion in Five days earlier it became known about the introduction of the US tariff of 25% on some Chinese goods, China responded with a mirror — a promise to raise taxes for imported us goods. The first victims of large-scale trade wars have become Chinese billionaires.

Two days after the statements of trump, on 20 and 21 June, according to our calculations, the combined state 351 billionaire from China in the global Forbes list dropped from $1,155 trillion to $1,105 trillion.

The Memorandum is aimed at reducing the U.S. trade deficit with China, Donald trump signed on March 22, and instructed to draw up a first list of Chinese goods that will be imposed duties. Then it was on Chinese imports by $60 billion, According to the American President, the trade deficit with China is $540 billion of the Third of April, the US published a list of 1,300 Chinese goods, which when imported into the United States will be taxed at 25%. In it in particular, got the drugs, medical equipment, aircraft engines, robotics, led lamps. China responded with a list of 106 positions, which included soybeans, automobiles, petrochemical products and aircraft. Both “weighed” at $50 billion.

In June promised to impose duties on Chinese imports already at $200 billion, while trump threatened to enlarge the “zone of punishment” for another $200 billion if China will impose retaliatory duties on American goods.

In March, the trade war had just begun, was published by a global list of Forbes, which had 374 billionaires from China, now there are 351 in it. According to a leading employee of the Institute of Far East of RAS Vasily Kashin, a trade war could drag on for a long time. “Except trump, who is building the pressure on China, which still has the goal of closing the deal, the Congress — explains the expert. Congress can frustrate agreement where they seem to be planned, as happened in the case of ZTE”.