Concerns about US-China trade relations
Dear traders,
On Friday, 25% of the US duty on Chinese goods worth $ 34 billion will come into effect. Trump’s administration is trying to reduce the trade deficit and protect the intellectual property rights of US companies.
Beijing intends on the same day to introduce reciprocal duties on imports of US goods worth $ 34 billion, including politically sensitive duties on agricultural products and cars.
Washington and Beijing approached the trade war after several rounds of negotiations, as a result of which it failed to eliminate the US claims to China’s industrial policy and the lack of access to the Chinese market. The negative balance of trade between the US and China according to the latest data is $ 375 billion.
Recent events on the markets have shown that China will lose more from the escalation of the trade conflict between the two largest economies of the world. Chinese index Shanghai composite for June fell by 8%, and the Chinese yen recorded the largest decline in a month against the dollar: in June it fell by 3% (USD / CNY). (Investing.com)
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