In the trade dispute with the United States has now also announced China, to impose new duties on US Goods. From June to import fees in the amount of 60 billion US dollars are due. Thus, the dispute goes in a new round.
This reaction had been expected: Even China is now in a trade dispute with the United States on higher duties. Beijing announced that from 1. To rise in June, additional import duties on US imports in the amount of 60 billion US dollars.
The adaptation was a "response to the US unilateralism and trade protectionism," it said. Nevertheless, we hope that the United States returned in the sense of mutual respect for bilateral economic cooperation.
Beijing gave a confident: "China will never yield to external pressure," said the foreign Ministry spokesman Geng Shuang. The people's Republic have the self-confidence and the possibilities to defend its legitimate rights.
Meanwhile, US President, Donald Trump emphasized that for the United States in trade dispute with China over everything according to Plan. "We are exactly where we are with China want to be", he tweeted.washing machine costs 86 dollars more
The cost of the trade dispute, especially among consumers in the USA. The reason for this is Because duties are not paid by the Chinese government, or companies with headquarters in China, but by importers of Chinese goods.
in General, U.S. companies or U.S. registered subsidiaries of foreign companies. These pass on the costs, in turn, often to their customers who are predominantly manufacturers and consumers in the United States.
Already, consumers must engage in a variety of products deeper into the bag. "The duties are paid by American companies and consumers, not from China," says David French, of the retail trade Association National Retail Federation in Washington. According to a study by the University of Chicago and the New York Fed, the price of a washing machine has increased in the past year to an average of 86 dollars. A dryer now costs 92 dollars more.A hidden tax increase
Trumps economic adviser Larry Kudlow acknowledged that the increased US duties will affect Goods from China in both countries. "In fact, both sides are numbers," he told the station Fox News. US citizens would have to pay the import duties. The current trade policy acting as a hidden tax increase.
Trumps economic adviser Larry Kudlow acknowledged that the increased US duties will affect Goods from China in both countries.
Furthermore, Kudlow spoke earlier statements of the President, according to which money flows out of China and directly to the American state is of benefit. If China does not pay the imposed duties previously admitted Kudlow.
Kudlows assessment of the US economy, however, able to assert itself. "We are in a great shape to correct to 20, and more years of unfair trade practices with China." This risk could be the USA without the economy in any significant way to damage it.
The two largest economies in the world, been stalling for more than a year of each other with punitive tariffs. On Friday, a inch increase from ten to 25 percent for Chinese Goods to the value of 200 billion dollars was in force. The trade conflict impacted the financial centers of the world, and stoking fears of a global economic downturn.