Date: 5 months ago   Category: Markets

The USA and China have exchanged blows in trade war


The USA and China have introduced mutual 25 percent duties on goods with a total amount of 16 billion dollars, Bloomberg reports. The first the restrictions of Washington announced on August 8 have come into force. Among goods which import is assessed with increased taxes, engines for tractors, details for the railroads, trams and trains now and also cables. In reply the Chinese authorities have stated that they are forced to apply mirror measures which have begun to work at noon local time (7:00 on Moscow). Also Beijing has addressed with the complaint to the World Trade Organization. The ministry of commerce has explained this step with desire to guarantee multilateral trade and to protect the interests. The USA and China have begun to introduce increased taxes on goods of each other at the beginning of 2018. The American president Donald Trump who has accused Beijing of a dishonest game and complained of too big deficiency in bilateral trade balance has acted as the initiator. Now restrictions have affected goods with a total amount more than hundred billion dollars. Later other countries worldwide also have joined trade war. On August 22 Trump announced a trade victory over China. According to the president, the Chinese economy has slowed down growth and won't be able to displace American from the first place in the world any more. It is more than important news in Film of Day Telegram-channel. Subscribe!

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