“When the duties come into effect on 12.01 on April 9th, China will add another 104% to its imports. China did not meet the Southern time deadline set by President Donald Trump.
Thus, Lawrence confirmed that he intends to realize that threat from Monday when Trump threatened to apply an additional 50% obligation on imports from China if he does not withdraw from the 34% retaliation obligation announced Friday.
See: China will not give up on Trump. Customs war escalates
united states of america. Trump has no plans to change customs policy
US Trade Representative (UPR) Jamieson Greer confirmed Wednesday when he acknowledged that US companies may feel the serious consequences of implementing obligations as they must prepare for the need to change their supply chains.
He also said President Donald Trump’s administration is not planning to change customs policy in the near future. “The President repeatedly stated that on the short horizon, he would not be trying to make an exception to a country chosen from a customs tariff perspective,” Greer emphasized. He assured that his team was quick to prepare for commercial negotiations with other countries, but there is no deadline for them to be taken.
See: The first country bends before Trump. They endure US obligations
“Because there was no inflation in Trump’s first term, economists do not trust them to predict inflation caused by their duties,” he said, noting experts’ warnings about the impact of the trade war on the US economy.
Greer also informed that the Department of Trade is considering starting a survey of “critical minerals” to reduce US poisoning from imports of raw materials from China.
Donald Trump applies 104% obligation to China
In February, Trump imposed a 20% obligation on goods from China, and last Wednesday announced that he would impose an additional 34% under tariffs to establish a “reciprocal relationship” in trade relations. After Beijing announced the same, the US president announced another 50%. This offers a total of 104% rate for almost all products imported from China.
Additional duties in China and the other 56 countries where the US has a commercial deficit will take effect Wednesday on East American Time (6am in Poland). Poland is also one of the countries affected as part of the European Union and is subject to a 20% obligation.
Krzysztof Gawkowski: It leads to a trade war
Digitisation Minister Krzysztof Gawkowski mentioned the subject of China’s 104% duties. – Shocking. I call it very much because it leads to economic wars that can always get out of control rather than leading to conflicts of habits and fights for the economy – he commented.
– If China and the US start to scare them on such a big level and implement them at the same time, they will ultimately lose out on citizens and businesses. Leaders may be a condition one day, but the economy won’t come soon – he said.
According to Gawkowski, Tesla owner Elon Musk, who owns a factory in China, will also be shocked by Trump’s decision. – This will select the stock price of his company. For each economy of the world, at the same time as the imposition of such obligations, the retort policy, or conversely, practice, causes complications – the Minister said.
-This is how the war began in the 20th century. Finally, it has always been about money and the economy. I hope it doesn’t turn out like that – he said.
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