Sunday, August 26, 2018

United states and china increasing their TRADE WAR

The United States and China increased their trade war on 23rd August, implementing 25 percent tariffs on $16 billion worth of the other's goods.

The latest round brings to $50 billion the value of imports subjected to tariffs on either side since early July,adding to risks for global economic growth.

Washington is holding hearings this week on a proposed list of an additional $200 billion worth of Chinese imports to face duties.

U.S. Customs and Border Protection had confirmed that it would begin collecting extra 25 percent duties on 279 Chinese import product categories valued at $16 billion from 23rd August.

Question rising

us china trade war impact
us china trade war consequences
who benefits most from a us-china trade war?
us china trade war timeline

China has reciprocated its own tariffs on a list of $16 billion worth of imports from the United States effective from 23rd August.

Economists says that every $100 billion of imports affected by tariffs would reduce global trade by around 0.5 percent.

They have assumed a direct impact on China's economic growth in 2018 of 0.1-0.3 percentage points, and somewhat less for the United States, but the impact will be bigger next year, along with collateral damage for other countries and companies tied into China's global supply chains.