“The United States imposed $34 billion in tariffs on Chinese imports in a “trade bullying” move that kicked off the largest trade war in economic history“. With these words, the Chinese Commerce Minister commented on the entry into force in the United States of the new 25% tariffs on the import of 818 goods distributed in key sectors of Beijing's economy: cars, medical equipment, aerospace and information technology .
Just a taste of what could happen between now and the end of the year in the context of a battle that the White House seems determined to pursue in a stubborn and stubborn manner. A “fight to the last exchange” which spares no one, not even the allies of all time (namely Europe) and which threatens to detonate the toughest trade conflict since the Great Depression in the name of protectionism andAmerica First.
In detail, at 00.01 in Washington - 6.00 in Italy - they were taken measures for 34 billion dollars as part of a preliminary action which provides for duties totaling 50 billion. The schedule in the US seems to be ready and ready: in August the second tranche of duties already foreseen and approved on 16 billion dollars of Chinese products will arrive, then in the autumn the great escalation will start with sanctions for an additional 200 billion dollars .
At the same juncture, but China is flexing its muscles and let it be known that it is willing to respond blow by blow, tariffs against tariffs, protectionism against protectionism. In fact, countermeasures for 34 billion have already entered into force - the same figure envisaged by the White House - on 545 products made in the USA including soy, meat, whiskey and other spirits and SUVs. From Beijing they specify that, even in the event that all the duties envisaged in the 50 billion preliminary plan were to be triggered, the measures desired by Donald Trump would have "limited" effects, equal to -0,2% of the country's GDP. The situation is different if the US President decides to carry out the other promises in the name of defending "national security" and protecting intellectual property.
Indeed, Trump has already feared the possibility of imposing tariffs of 10% on imports from China for another 500 billion. Astronomical figures that equal to the full value of Made in China which annually crosses the borders of the United States.
From Air Force One, while en route to Montana, the White House tenant addressed reporters directly, explaining to them that they will have to take into account the entire amount of sanctions envisaged by his plan: first “34 billion and then there are another 16 billion in two weeks – Trump would have stated – and then, as you know, another 200 billion pending and after that another 300 billion pending. Okay? So we have 50 plus 200 plus almost 300, okay? And that's just about China", summed up the president.
Words that sound more like a direct threat to Beijing (and indirect to Europe) which as a simple "explanation" to the media and which - it now seems obvious - will trigger a reaction from the adversaries and perhaps by now former allies. The trade war is served.
