The US and China added another $16 billion in trade war
The US and China announced their intentions to impose an additional 25 per cent duty on imported goods worth $16 billion from August 23.
China said it will toughen the conditions of supply for American oil products, steel and cars. This step was a response to the US claims about a similar decision on Chinese motorcycles, cars and industrial chemistry. The plans of both parties affecting the goods to $16 billion, and should enter into force on 23 August.
Last month, the country imposed trade duties on deliveries worth $34 billion New tightening will lead to a total punitive measures against turnover of $100 billion.
It all started with the fact that the United States has accused China of unfair trade associated with the forced transfer of American technologies and intellectual property, raising the duty on 333 categories of Chinese goods. Beijing accused Washington’s unjustified decision and answered. After threats of Donald trump on the expansion of the list of goods up to $200 billion last week, the conflict began to intensify.
However, despite the confidence of States in their victory, the Americans refuse to reduce their appetites. Customs China recorded growth in July, exports to the United States by 12.2% compared to last year and compared to June, the trade surplus of China decreased only with 28,97 to $28,09 billion.
Experts say that a trade war is not yet begun, and operates at the Advisory level, but the build-up of tension can lead to unpredictable consequences. Many believe that Donald trump is not interested in continuing, and imposing new tariffs to conclude a truce on more favorable for the US conditions, and in the end to win.
Meanwhile, it seems that North Korea began to give preference to economic development and change weapons at the tourists.