New import duties worked for the good of America better than expected, said the President of the United States Donald trump. According to him, the US market will become even stronger when unfavorable trade agreements will be revised
(Photo: Leah Millis / Reuters)
Duties on imports which have entered for the last time the White house worked much better than expected, said the President of the United States Donald trump. According to him, after the revision is disadvantageous trade agreements the US market will become stronger and he expects a “spectacular” growth.
About this trump wrote in his Twitter.
“Fees are much better than anyone could imagine. Chinese market fell by 27% over the past four months, and they are negotiating with us. Our market is now stronger than ever, and he expects an impressive growth after reviewing these horrible trade agreements. America — first of all…”, — wrote the President of the United States.
The Shanghai stock exchange index showed in January 2018 local maxima at 3587 points and since so high did not rise. The last recorded value as at 5 August to 2740 points.
Revision of the unfavorable U.S. trade agreements change of tariff policy and the protection of its own market was one of the main points of the electoral program of the trump.
In March 2018, the White house announced the introduction of import duties on steel and aluminum. The EU and several other countries received a postponement until June 1, after which the US imposed these restrictions are for the EU, Mexico and Canada. In parallel, the US began a trade war with China.
Trump called method to complete a trade war with the EU
25 Jul trump at negotiations with delegation of the European Union agreed on measures that would allow avoiding trade wars. The parties agreed to strive for zero duties. Previously had an imbalance: the Americans took the European car manufacturers a fee of 2.5%, while the Europeans have imposed American cars 10 percent fee. Trucks was the opposite: higher fees paid to European producers.
The confrontation with China, meanwhile, is gaining momentum: July 11, the US issued a list of Chinese goods that will be levied to import duty at 10%. Under the tariff constraint are the goods for the sum about $200 billion Later, the White house issued a statement about plans to raise duties on some groups of goods to the level of 25%.
Beijing has prepared its response and adopted a new list of increased duties on American and canadian products. On 2493 products, Beijing has planned to increase the import duty to 25% are agricultural products, minerals, chemicals, perfumery and cosmetics, contraceptives, leather products, wood, textiles, carpets, clothing and footwear, iron and steel products and so on. Even for 1078 kinds of products, import duties will rise to 20% (drinks, canned food, flour products, paper products, computers, batteries, navigational instruments, optics, musical instruments, Antiques). Some of the groups plan to install toll at 10 and 5%.
While China said that it would impose new tariffs if the United States will not abandon the “trade war” with China and will continue to protect its market from Chinese goods.