How trade war is hurting China?

US President on Saturday defended his strategy to increase tariffs on $ 200 billion of imports from China, arguing that these procedures “work much better than anyone had expected.” This is done after some responses from China and US/EU zero tariff alliance.

“Customs duties have a huge positive impact on our steel industry,” he declared in a tweet. “Plants open in all the United States, steelmakers work again and huge sums enter the coffers of the country”.

“The tariffs will make our country even richer than it is today, only fools would disagree,” the US president added in another message.

According to him, “for the first time”, China is not in the best position against the United States.

Donald Trump broadcasted this week the rise from 10% to 235% customs duties on 200 billion imports from China!

Beijing has said it is ready to impose 5% to 25% surcharges on 5,207 sorts of US products, worth $ 60 billion which seems a weak response according to some experts.

The United States and China, interdependent financially and economically, have embarked on a trade war that could affect their development and affect consumers in both countries.

 

#China, #US, #Trump, #TradeWar

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