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The States and the PRC introduced new duties on imported products from each country

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The States and the PRC introduced new duties on imported products from each country
September 24
14:00 2018

Today at 7 am Moscow time new export tariffs from China to the States have stated to operate. They will be distributed to imported products amounting to 200 billion US dollars. At the same time, China itself has imposed duties on exports from the US, but for a much smaller amount – “only” $ 60 billion.

Prior to this, the parties to the trade conflict introduced the same tariffs amounting to $ 50 billion for imports into their countries.

Last week the states announced that they would impose sanctions on China’s export products worth $ 200 billion. At the same time, if China does not give in, then the tariff will rise from 10% to 25%, starting from the next year. The Chinese side announced that it would impose a 10% duty on more than 5,000 items from America. It’s about natural gas supplied from the States. It will cost a 10% duty to import it.

Beijing stressed that if Washington continued to raise tariffs, it would respond appropriately.

The Chinese government expresses its hope that the US will finally end the conflict and start a respectful dialogue, which will help to get out of the disputes that have arisen.

President Trump said that if China introduced similar measures, then duties would additionally apply to the products worth $ 267 billion. As a result, it turns out that higher tariffs will apply to all exports from China, the cumulative amount of which is more than $ 500 billion.

At the same time, China receives from the US the products worth about 190 billion US dollars.

The American media reported that such an ultimatum of Mr. Trump could provoke a further development of the conflict and China’s refusal to participate in negotiations with the US.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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