China will levy 50 billion on US-American products from 6 July on punitive duties. That shared official Chinese news agency Xinhua. In a first step, 34 billion dollars should be levied on 545 product types of American origin, including agricultural products such as soybeans, cars and seafood. A furr 16 billion dollars is to be collected on 114 US merchandise groups, including chemicals, medical equipment and energy products. Import duties are answer to US President Donald Trump’s decision to impose such on Chinese goods.
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Trump had notified on Friday to levy additional duties on Chinese imports into US on July 6th at 50 billion dollars. The measures are intended to cover 1,102 Chinese product groups, including cars, aircraft parts, information and communication technology products, and robotics and mechanical engineering.
TRUMP: “There is no trade war”
Furr US import duties amounting to anor 50 billion dollars are in preparation and could be raised as a backlash against now adopted Chinese measures. These announcements have taken note of Chinese government, Xinhua reported. China reserves right to take appropriate countermeasures.
The background of trade dispute is accusation by US government that China is operating an unfair industrial and trade policy. The government in Beijing violates patent and copyright laws to develop advanced technologies, for example for Roboterund electric cars, is accusation from Washington. Already in his election campaign, Donald Trump had promised to seek to combat such unfair practices in his view. Fears that an escalation with China could have a greater impact on world economy, Trump pointed out on Friday: “There’s KeinenHandelskrieg,” he said in an interview with Fox News. “You’ve taken so much,” he added with a view to China.
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China is one of most important trading partners in USA. 2017, United States had a total value of 506 billion dollars from China. In contrast, exports are worth 103 billion dollars.
