Trade tension between USA and China
Dear traders,
The exchange of increasingly harsh statements regarding international trade raises concerns among investors. President of the United States Donald Trump on Friday announced the introduction of duties on imported Chinese goods worth $ 50 billion.
Trump announced a list of more than 800 strategically important imports of China, for which from July 6 will be imposed 25% of the fee. There are cars on this list, which recently became one of Trump’s strict requirements for international trade. These statements have already led to disagreements between the US and its long-standing allies.
The Minister of Commerce of China said that his country in return would introduce duties of a similar scale and significance. He also said that any previous trade deals with Trump are no longer valid. The information agency of the Chinese government Xinhua reported that China will impose a 25% duty on 659 US goods, ranging from soybeans and seafood to cars.
Trump made a statement that if China introduces reciprocal duties, the US will increase the amount of duties on Chinese goods.
Washington and Beijing are getting closer to the trade war after several rounds of negotiations, as a result of which the US’s claims to China’s industrial policy and the lack of access to the Chinese market failed to be eliminated. The negative balance of trade between the US and China was $ 375 billion (Investing.com)
Be careful, this kind of news can affect the overall volatility of the market!
Have a good trade, Ladies and Gentlemen!
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