United States Trade Representative issued an official press release. In fact, this is a declaration of a trade war between the US and the PRC, since the press release mentions the introduction of an additional 25% duty on 1,100 Chinese goods. The total amount of imports of these goods is estimated at $ 50 billion.
US Trade Representative Robert Lightheizer commented on the situation as follows: “We should act decisively in order to protect the US leadership in the field of technology and innovation from the Chinese threat. The threat affects due to the theft of intellectual property by representatives of China and cyber attacks on our computer networks. “
Donald Trump announced his intention to protect the US economy by imposing duties on China a month earlier, at the end of May.
The list of goods that will be subject to state duties consists of mainly those that were made under the program “Made in China-2025”. We recall that we are talking about the products of the industry, in particular, goods of the aerospace industry, robotics, industrial engineering, cars, as well as information technology.
The press release said that the list was not final; it can be adjusted based on the needs for imports of specific US companies.
China did not hesitate to reply. The Ministry of Commerce of the People’s Republic of China published a statement that said that the United States should expect a response.
The information published on the website also states that official China opposes the trade war, but it is forced to respond to the aggressive behavior of the United States.
Analysts agree that rather aggressive actions of the States will hit both countries and reverse the progress of all the successes achieved in the trade issues before.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade