China replicates in the United States with 75 billion customs taxes

Regain of tension in the trade war raging between the United States and China. The Middle Kingdom has announced this Friday, August 23, its willingness to introduce new customs duties on $ 75 billion of imports from the country of Uncle Sam, from September 1 followed by a second salve scheduled for December 15. Purpose of the operation: to respond to the onslaught of Washington which also provides, for its part, to introduce customs taxes son imports from China.

These additional tariffs will range between 5% and 10% and will cover 5,078 US products, said the government's customs office. Beijing also announced the imposition of tariffs of 25% on US automobiles as well as 5% on auto parts, as of December 15th.

A counterproductive war according to American experts

China temporarily suspended car surcharges in December 2018 as a sign of goodwill in its trade talks with the Trump administration, and announced in April that the taxes would not be reimposed immediately. United States customs duties "have led to a steady escalation of economic and trade tensions, breaking the consensus reached between the two heads of state in Argentina and the one found in Osaka", the government's customs office said in a statement, referring to the two G20s in which Xi Jinping and Donald Trump had spoken in recent months.

Since the beginning of the trade war between the United States and China, Washington has imposed additional customs duties on the equivalent of $ 250 billion worth of imported Chinese goods, and has recently pushed back to December 15 the imposition of a additional tax of 10% on a variety of consumer products, including electronic. China had threatened in early August to take "necessary retaliatory measures" if President Donald Trump carried out his threat to extend his punitive tariffs to all Chinese products imported.

However, the upward movement of tariff barriers, which includes tariffs imposed by the Trump administration, is slowing down the US economy and reducing household incomes, according to estimates by the Congressional Budget Office (CBO), a non-profit organization. supporter of the federal parliament, which indicates that the tensions commercialIt will amputate 0.4%, or 580 dollars (522 euros), the average disposable income of US households. Cestimates contradict the White House's assertions that the war commercial ongoing with China has no negative effect on the US economy. "Our economy is so strong, sorry!"said Trump on Wednesday, Aug. 21, in a series of posts posted on Twitter, accusing the media of fanning fears of recession and again calling on the Federal Reserve to support growth by reducing interest rates.