4 countries lead the world to a new trade war

4 countries lead the world to a new trade war


24/02/2018 
 

There is growing controversy over trade issues among world leaders on a daily basis, with each country sticking to its right to protect its trade balance .

 

States are struggling to make arguments that support tariff increases on their imports, which ultimately created a vague situation for the future of world trade, but the features of an impending crisis or a trade war are the most dominating thing at the moment .

 

America leads threats

 

The goal of reducing the US trade deficit The most important goals of US President "Donald Trump" since he took office, and for the whole year, Trump sought all ways to reduce the deficit, sometimes threats, and practical implementation at other times .

 

In his first year of office, the US trade deficit rose 12 percent.

 

Trump's decision to get his country out of the NAFTA agreement was the first of these measures. So far, America's return to that resolution is unclear .

 

On various occasions, Trump denounced what he called "unfair trade relations" among many countries in Asia and Europe .

 

The US president renewed his threats to impose tariffs on steel and aluminum imports last week .

 

Trump also threatened last year to block German car exports to the United States. "The Germans are selling huge numbers of cars in our country ."

 

US President George W. Bush's remarks this year, when he said last month that EU trade relations with the United States was unfair, continued and warned that his problems with the EU "could lead to something big in my view ."

 

China is the biggest threat to the US trade balance for Trump. Last November, he described his country's trade deficit with the Asian nation as huge. "It is higher than any figure anyone could ever imagine ."

 

Donald Trump stressed the need to address unfair trade practices immediately, "because they are an obstacle to market success ."

 

The US Commerce Secretary also stressed that trade wars have always existed, "but America has now reached that war ."

 

From mere remarks to actual action on the ground, the United States last month applied tariffs on solar panel imports of up to 30 percent.

 

The US Commerce Department has also recommended imposing tariffs on steel and aluminum imports, a move that has raised concerns and objections from China in particular .

 

Europe responds to threats

 

In the face of the Trump threats, Europe issued similar warnings, promising to respond to any damage it may suffer from America and affect its commercial status .

 

"The EU is ready to respond quickly and appropriately if our embargo is affected by any restrictive trade procedures from the United States, " said Margaritas Shinas, spokesman for the EU's executive body, in January .

 

Shines said this week he would take appropriate measures to protect his country's industry and "are ready to respond quickly if our exports are affected by US monetary trade measures ."

 

Despite denouncing the Trump policy, the EU is proceeding with similar actions by the United States. The European Commission imposed anti-dumping duties on imports of steel products from Brazil, Iran, Russia and Ukraine last year .

 

China and India defy Trump

 

With the Trump threats and decisions on the trade issue, China and India decided to reciprocate those resolutions .

 

The head of the Department of Reform and Investment of the Ministry of Commerce of China that the US proposals on the imposition of customs duties on steel wanted is not consistent with the truth, noting that his country has the right to reply in the event of implementation of these procedures .

 

The Chinese official said that his country would immediately take the necessary measures to protect its rights. "Indeed, the United States already has high safeguards on local iron and steel products ."

 

India has announced its plan to increase customs on a variety of products ranging from hardware to food products to promote the country's economic growth plan .

 

At the level of Indian-American trade relations, the Asian state has reduced taxes on motorbike destinations "from 75% to 50%, a decision that did not impress the American president .

 

Trump threatened to impose customs duties on India's exports to America, and said India's cut rate was "unfair," as he wanted more cuts .

 

Warnings on the Global System

 

As the trade row escalated, voices warned of the impact of this trend on global trade .

 

French President Emmanuel Macaron said that globalization was facing a "major crisis", calling for collective action to meet this challenge .

 

McCron added that France has been affected by structural change and this relationship with globalization, pointing out that his country has witnessed enormous concerns about globalization and lack of awareness about its benefits .

 

German Chancellor Angela Merkel also expressed concern about threats to multilateralism that represent the current world order in favor of a trend towards deepening populism and protectionism .

 

As the International Monetary Fund hinted at the crisis, and warned in a report issued in January, of the policies of closure (protectionism ).

 

Important and long-term trade agreements, still under negotiation such as the NAFTA, and trade agreements between the UK and the rest of the EU, are one of the most prominent .

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