Trump UPS the ante in the trade war with China

2018-08-03 12:10:34
Machine translation
Trump UPS the ante in the trade war with China

Bloomberg, citing its own sources reported that the administration trump plans to introduce a 25% import duty on goods and services with China in the amount of $ 200 billion, as it considers that insufficient previous intentions trump to impose 10% duty on the extra extended the list of goods and services.


the Minister of Commerce of the U.S. V. Ross reported that, in the opinion of the President, the time has come to increase pressure on China, because instead of having to change own behavior, they imposed duties in return.


Ross said that the US should create a situation in which China "will be harder to continue inefficient practices than to reform them." The new duties will not be a disaster for China's economy, though, and will cost $ 50 billion per year, amounting to 0.3% of the country's economy to $ 18 trillion.


Soybean futures in Chicago, which from the beginning of the week grew on the news about the continuation of the official negotiations between countries and have crossed the psychological threshold of 9 $/bushel yesterday after the publication of the news fell to 8.92 $/bushel or 327,8 $/t