China has no intention of sitting idleor while Donald Trump strikes at the heart of the import of Chinese goods and prepares a full-blown retaliation. Meanwhile the bogeyman "trade war" continues to reign over the bags: after the crash of Wall Street Tokyo and Shanghai are also reacting to US decisions closing trading in deep red: -4,51% for Nikkei, -3,39% for Shanghai and -4,49% for the index of Shenzhen.
Based on what was announced by the Chinese Ministry of Commerce - which continues to hope for a last-minute turnaround by the US - Beijing could adopt measures on the import of US products to be divided into two groups. China also announces the possibility of resorting to legal actions according to the provisions of the rules of the WTO, the World Trade Organization. Beijing "urges the US to resolve Chinese concerns as soon as possible", reads the statement posted on the website of the competent ministry.
According to rumors, the trade war could affect 128 US products such as pork, fruit, steel pipes, aluminum scraps, wine and ethanol, with a total value estimated at about 3 billion dollars in 2017.
As Ansa explains, the aforementioned goods could be divided into two groups: the first would weigh gods 15% duties – the same percentage established by the USA on aluminum imports – it would impose itself on the latter a rate of 25%, as for steel in the United States.
At the moment, those of Beijing remain just words, but in case Donald Trump decides to proceed with "the war", China could also target the agricultural sector, that is to say the first item of US exports to the Asian country: in 2016 the US shipped soybeans to China for 14,2 billion dollars.
We remind you that, although there are still no official confirmations, the United States would have decided to exclude the European Union from the new wave of Tomorrow, March 23, the conclusions of Brussels on the subject of trade should be disseminated.
The issue also concerns the United Kingdom which is aiming straight for a permanent exemption.” We have worked hard for a temporary EU exemption from US tariffs which we have obtained, this morning we will discuss how we can ensure a permanent exemption and therefore what will be the next steps to take”. So British Prime Minister Theresa May upon her arrival at the working session on duties of the EU28 summit which was moved to this morning. “We want to secure our steel workers their jobs,” she added.
“Trade protectionism is the biggest medium-term risk now, given that it has direct effects and brings with it the possibility of retaliation and loss of confidence”. These are the words spoken yesterday, March 22, by the president of the ECB, Mario Draghi, after the announcement by Donald Trump of his intention to prepare measures for 50 billion dollars against China, accused of "unfair competition" and theft of intellectual property .
