The Newest: Japan Expecting to China-US trade dispute for Ending

16 Mai, 2019, 07:25 | Auteur: Auguste Feret
  • Donald Trump

US and Chinese negotiators met briefly Friday in an effort to revive negotiations even as the Trump administration increased duties on almost half of Chinese imports to 25% from 10%.

As trade tensions between the United States and China escalated in the week following President Donald Trump's surprise announcement of a tariff hike on Chinese imports, China's state-run media soon cranked up its propaganda efforts, criticizing the actions of the United States.

"In the short term, the tariff hike may be a shock to China's foreign trade and some industries", said Yang Chen, managing partner at Chinese law firm Jincheng Tongda & Neal and a specialist in worldwide trade issues. The formation of the World Trade Organization and the forging of trade deals like the North American Free Trade Agreement reduced or eliminated tariffs.

"Such an easy way to avoid Tariffs?"

The higher duty rates imposed on Friday will hit a vast array of Chinese-made electrical equipment, machinery, auto parts and furniture, and will apply to goods that left port after midnight Washington time.

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Sources told Reuters this week that China had deleted its commitments in the draft agreement that said it would change laws to resolve core complaints of the United States: theft of US intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation. The retailer would have to pay a $32.50 tariff on the shipment, thereby raising the total price from $500 to $532.50. "There is enough business with the U.S. to justify continued talks", Collier told Al Jazeera.

This tariff will be levied on more than 5 thousand items. "Just sit back and watch!"

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"The deal will become far worse for them if it has to be negotiated in my second term. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with 'murder!'" The North American Free Trade Agreement remains in place, and an overhaul of the pact Trump negotiated a year ago called the U.S. -Mexico-Canada Agreement faces opposition in Congress. Tariffs are "much easier and quicker to do" and bring the United States more money than a deal, he has been claiming. "Our Farmers will do better, faster, and starving nations can now be helped", Trump tweeted. "Waivers on some products will be granted, or go to new source!" he said in another tweet.

"While we believe that a trade deal will eventually be reached between the United States and China, the risk of a complete breakdown in trade talks has certainly increased", Taylor said.

The president's views on tariffs have been heavily criticized. Trade experts say it is extremely hard for China to slap high tariffs on a large number of USA products because it will push up the costs of Chinese consumers and companies that use those products.

"While the administration is right to take on the serious trade challenges our country has with China, I have always been skeptical that the president will deliver for American workers without coordinating with our economic and political allies", Senator Ron Wyden of OR, the top Democrat on the Finance Committee, said in a statement on Friday.

The Chinese hit back at the U.S. by raising levies on American products worth $150 billion.

Trump has also threatened to impose additional tariffs on another $325bn of Chinese goods, covering nearly everything China exports to the US.

Bank of America this week warned against the possibility of a trade creating the "potential to enter bear market territory in a global recessionary scenario".

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