How will the US-China trade war impact South Africa?

Cornelia Mascio
Giugno 22, 2018

The goods targeted include typical American exports like bourbon, peanut butter, cranberries and orange juice, in a way that seems designed to create the most political pressure on President Trump and US politicians.

The European Union will slap U.S. products with a series of retaliatory tariffs from Friday, it confirmed this morning.

The possibility of such a war has been in focus after US President Trump announced tariffs on Chinese goods and China retaliated with tariffs on most agricultural imports from the US. Europeans claim it is simply protectionism and breaks global trade rules.

The EU is just region counterpunching against the Trump administration's tariffs.

Speaking in Ireland, he said: "The trade that we believe in is built on rules, trust and reliable partnership".

The EU exported some 5.5 million tons of steel to the US past year.

The U.S. Trade Representative said in April that the United States' trade deficit with India had fallen to $23 billion in 2017, a 6 percent decrease, as U.S. goods exported to India rose almost $26 billion, up 18 percent from the previous year.

"The United States' decision to impose tariffs on Europe goes against that". The higher tariffs had previously been registered with the World Trade Organization (WTO).

Asian stocks fell, extending the worst week for regional equities since late March, amid concern global trade restrictions will curb growth.

European Union officials imposed duties on American goods worth £2.4bn (€2.8bn) today, including bourbon whiskey and motorbikes. Its biggest target has been China, against which President Trump this week ordered new tariffs on $200 billion worth of goods. But in the current politically charged climate, a trade war is now a reality, as the United States decided in March to adopt an aggressive protectionist policy to correct what the Trump administration believes is a crippling trade deficit between the USA and several major trading partners.

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