Donald Trump hits hard and threatens Beijing with $ 100 billion in taxes

"I asked the Ministry of Commerce to consider whether an additional $ 100 billion of tariffs would be adjusted under Article 301 (on intellectual property) and, in this case, to identify on which they could be taxed, "said the US president in a statement. Even if he has clearly decided to raise the pressure by one step by answering in Beijing, it is only threats.

The China s is declared Friday ready to "go to the end" and "whatever the price" in a commercial war with the United States, after new threats of the American president Donald Trump . "If the United States ignores the opposition of China and the international community and persists in their unilateral and protectionist measures, China is ready to go to the end, whatever the price," said the Chinese Ministry of Commerce in a statement. Trump threatened Thursday to impose $ 100 billion of new customs duties on Chinese imports, in response to retaliatory measures announced by Beijing.

US Trade Representative (USTR) Robert Lighthizer took care to note in a statement that, as the trade retaliation announced on April 3 by the United States that provoked the ire and the threat of retaliation from Beijing this week, they would only come into force after the end of a public consultation process. However, the prospect of a proper trade dispute is a concern for investors and stock prices have suffered in recent weeks.

"President Trump proposes an appropriate response to China's recent threat of After a detailed investigation, the USTR found irrefutable evidence that China's unreasonable actions were threatening the US economy, "he said. The USTR again denounces Chinese practices that, according to the Americans, are the looting of the intellectual property of American companies that want or do business in China.

Threats

"Economies Around the World – including the Chinese economy– would benefit from the application in China of policies that would truly reward hard work and innovation rather than pursue policies that distort the vital sector of high technology, "the USTR added. its press release. "Unfortunately, China has chosen to respond with threats of imposing unjustified taxes on billions of dollars worth of US exports, including our agricultural products, which would undoubtedly hurt even more workers, farmers and businesses. USTR,

In response to the Trump administration's Tuesday publication of a tentative list of products imported from China likely to be subject to new tariffs, Beijing responded with a A list of more strategic US products including soybean, automotive and aerospace for an amount equal to the first measures announced by Washington on Tuesday: $ 50 billion.

Beijing has taken careful to establish its list of future products to be taxed to hit as hard as possible regions that voted in favor of Donald Trump, according to experts. One way to exert maximum pressure on the billionaire, which ensures that it will seek a second mandate. China also made an official approach to the first round of tariffs by Trump on Thursday at the World Trade Organization (WTO)

In the Chinese text, published by the WTO, the Chinese delegation the organization is seeking "consultations" with Washington "on the taxes (and) measures" that Mr. Trump plans to apply "to certain products in various sectors including mechanical engineering, electronics, etc., from China". A "request for consultations" is the first step towards a formal complaint to the WTO Dispute Settlement Body.

Donald Trump has launched a merciless struggle against the US trade deficit which he sees as a sign of the weakness of his predecessors who have allowed the rest of the world to profit from the United States.

International mobilization

China is particularly in the sights. The US trade deficit (US $ 375.2 billion in 2017) pushed Trump to ask Chinese officials to "immediately reduce this $ 100 billion deficit." The latest US figures released on Thursday show that since the beginning of the year, the deficit on goods trading has further increased by more than 20%. "We are not in a trade war with China, this war was lost many years ago by stupid or incompetent people, people representing the United States," said Mr. Trump.

Chinese, rhetoric is no less warlike. "Any attempt to put China on its knees by threat and intimidation is doomed to failure," a spokesman for Chinese Foreign Ministry Geng Shuang warned at a press briefing. The Chinese Foreign Minister, visiting Moscow on Thursday, called for international mobilization against Washington, while Trump opened several fronts in his quest for "a better deal."

"The International Community must oppose as a whole such unilateral actions and violations of the rules, defend as a whole the growth of the global economy and help those who think that everything is allowed them to find common sense, "said Wang Yi at of a press conference

(source: AFP)

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