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Warning that the Sino-US conflict is turning into a global trade war
21/7/2018 12:00 am [rtl]Washington / Nafie Fartoussi BEIJING (Reuters) - Economists have warned of a deepening of the risk of a China-US tariff dispute, leading to a global trade war that is unbeatable due to the continued escalation of the two most powerful global economies and growing fears of an outflow of investment that could plunge the US economy into recession. Harley-Davidson, the first US firm to confirm its intention to relocate some of its production operations abroad, has said it is calling for "retaliation", which pushes other US companies to take similar steps. Charges China accused the United States to start " the biggest trade war in the economic history" with the entry into force of the US tariff on Chinese goods worth $ 34 billion, even though the first responded immediately to the definitions of American goods the same value. Policies The Fed's members are increasingly concerned about the impending economic damage that will hit the US economy, from President Trump's trade policies. They believe that the 25 percent tariff on Chinese goods will affect products sold to relevant US manufacturers, medical device makers, farmers and others, and will have a detrimental effect on future investment activity. The Peterson Institute for International Economics said that imposing tariffs on all imports and spare parts would cut production in the United States by 1.5 percent, and 195,000 US workers could lose their jobs in the coming years. In contrast , The Strait reported that a reverse escape would happen to major US companies that have important markets for domestic consumers. She explained that the only options for Ford and General Motors in the commercial war were to expand production in China. These companies have built capacity in China to meet domestic demand, she said. However, huge tariffs will encourage them to relocate certain production lines and jobs to China in response to President Trump's policies. A losing war The tariff is essentially a tax on imported goods, so the companies affected by tariffs can respond by absorbing additional costs, increasing prices, and transferring production to other countries or a combination of the three, says expert John O'Reilly of Osterick Management. Prices will probably rise in the near term as tariffs increase the cost of imports and some companies will have to pass increasing costs to consumers, he said. In a trade war, losers are consumers, workers and companies on both sides, and there are no winners in the commercial war.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=160265[/rtl] |
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