Sunday, 24 Mar 2019

The US is waiting for concessions from China in the issue of duties


IllustrationIllustration -  Trump's economics advisor says that the Chinese will retreat, and Washington believes the cooperation will continue after Beijing softens its position on duties.

In the trade confrontation between Washington and Beijing, China will give way to the United States, said Larry Kudlow, chief economic adviser to the American president, on Fox News. 

He believed that Washington the increase of duties on the import of Chinese goods may not enter into force if Beijing fulfills the demands of the Americans. According to him, the exchange of economic threats was only the first proposals of the parties.

Commenting on the tension in relations with Beijing, which Washington accused of "protectionism," Kudlow expressed the following forecast:

"I think that we will reach agreement. Personally, I think my opinion is that the Chinese will step back and cooperate."

On March 23 2018, The US President,  Donald Trump signed a memorandum on "Combating China's Economic Aggression," which allows reducing imports of Chinese goods.

Nowadays, Washington is hampered by a policy of protectionism, allegedly promoted by Beijing, restricting imports of American goods by duties. For its part, China accused US of protectionism.

On April 3, the Trump administration published a list of Chinese goods, for which an additional 25% duty will be introduced. 

On the same day, Beijing threatened Washington to reply the same and informed the WTO about the introduction of reciprocal duties on 128 items of American goods.

On April 4 2018, Trump said, "We are not in a state of trade war with China, this war was lost many years ago by stupid or incompetent people who represented the United States."


Can be read in English and 100 other International languages

Versi Mobile