The trade war could have significant economic consequences, as China is the largest source of imports for 23 states and among the top five sources for 47. It can be seen that after more than four months of confrontation, China has become acquainted with the USA side's blackmailing means.
It's a new round of tit-for-tat tariffs in the U.S.
Where will the trade war end? US Customs will begin collecting duties on 279 product lines ranging from motorcycles to steam turbines and railway cars, the US Trade Representative's Office said in an emailed statement on Tuesday.
Beijing signaled this week that it might target prominent American companies such as Apple if the trade dispute escalates.
China's exports to the United States surged last month as companies rushed to fill orders ahead of a jump in US tariffs on Chinese goods.
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Trump has had a one-track mind on the China trade issue for more than a decade, having famously said that if he was ever the president he would "tariff the hell" out of them. "Considering the unreasonable U.S. demands, a trade war is an act that aims to crush China's economic sovereignty, trying to force China to be a USA economic vassal", it declared.
Despite the announcements, worldwide markets have reacted well and China has proven stable in its trade balance. Beijing already has stopped trying to match the U.S. tariffs on a dollar-for-dollar basis, threatening to hit just an additional US$60b in USA imports if the president follows through on his threat to target a further US$200b in Chinese products. It would likely have to impose penalties on USA companies doing business in China to make up the difference. That doesn't count the $50 billion they hit with tariffs in July. Under such consideration, they turn a blind eye to the suffering of USA enterprises and consumers.
He said it is too early to predict the result of the tariff imposition, but the present period could be seen as "the calm before the storm", as the impact would only be felt when the third and fourth financial quarter results became available. If other countries retaliate and tax similar products, 624,000 U.S.jobs could be lost.
The US is a leading pharmaceutical market, with aggregate spending valued at $467 billion during 2017, and estimated to increase to over $600 billion by 2022. It is expected that Morocco will import approximately $10 million in USA poultry with increased growth over time.
Beijing has warned that its exporters face "rising instabilities" after Washington imposed 25 percent duties on $34 billion of Chinese goods last month in response to complaints that China steals technology or pressures foreign companies to hand it over. The tariffs will come into effect simultaneously with the USA ones, at 12.01 pm in Beijing, according to the statements.