The trade war between the United States and its main allies gained more power on Friday (4). The Chinese government has announced a series of reprisals against the American economy.
China has announced a 34 % import tariff against American products. The rate is equal to that, which is imposed by US President Donald Trump against the Chinese economy during a “tariff” last Wednesday.
Beijing also included 11 American companies in a list that prevents practice in practice any trade relationship with Chinese companies. The sale of rare minerals for the American technology industry.
Finally, the Chinese government announced that it would increase Donald Trump’s tariff to the World Trade Organization. Despite acting, the entity has been paralyzed for the period of the first Republic.
China is the second largest commercial partner in the United States. Last year alone, Chinese companies sold about $ 420 billion to Americans. He imported 140 billion from the United States.
On the other hand, Trump said that China’s decision was wrong and that the country’s powers were “panicked” by implementing definitions.
With the closing of American ports from the world, the Chinese industry is expected to immerse other countries in an attempt to drain production that the local market is unable to absorb it. Citigroup estimates that the trade war should have a negative impact of only 2.4 % this year on Chinese gross domestic product.
In the face of the dilemma, China is now trying to expand trade relations with Europe, despite the continent’s resistance due to Russia’s support for Russia in the war against Ukraine.
However, most products should go to Asian neighbors, Latin America and Africa, and the regions in which China is already maintaining a high level of investment.
