translated from Spanish: Trump demand to solve lawsuit with China

Soybean producers and the American industry sued President Donald Trump on Tuesday to withdraw his threat of new tariffs on Chinese products and quickly close the trade war with Beijing. That message had to reinforce the agitation of the markets For in the United States, stocks fell by 2% for the first time in months for fear that the new tensions between the world’s largest economies would throw an agreement. Trump intends to duplicate from Friday tariffs on imported Chinese products for about 200 billion dollars after its negotiators accused Beijing of having reversed commitments already assumed to reduce the commercial défict Americans, stop the theft of American technology and reduce massive subsidies to Chinese production. American producers, who have China as their main customer, fear that reprisals from Beijing will extend the hardships they have been feeling since last year for the commercial war, said Davie Stephens, president of the association who Nuclea the Oilseed producers.

Last year, US soybean sales to China fell 75% from 2017 and amounted to only about 3 billion dollars after Beijing imposed tariffs on Trump’s tariff measures. Stephens said the prices are depressed so “he It needs China to reopen its market to U.S. soy exports in a matter of weeks, not months “and before the 2019 harvest begins in September.
The financial and emotional cost that American soy producers pay cannot be ignored, “he said.

The chemical industry has similar problems and also claimed the White House to quickly resolve the problem. ” The risks of continuing to use tariffs as a negotiating tactic with China are simply too high and it is not clear that they have any potential benefit, “said Cal Dooley, president of the US Chemical Industry Council. China supplies numerous chemicals to the United States that are not available elsewhere and are crucial inputs for manufactures in the United States, “he said. Will continue to negotiate
Despite the harsh American rhetoric, China said Tuesday that its chief negotiator Liu He will lead his delegation in the talks to be held in Washington on Thursday and Friday; One day later than originally anticipated. The announcement was well received in the Chinese stock exchanges, which the eve fell for the announcement of New American trade sanctions. ” China always believes in mutual respect. Equity and mutual benefits are the premise and basis for reaching an agreement. Adding tariffs will not solve any problems, “said Geng Shuang, spokesman for the Chinese Ministry of Foreign Affairs.

The barrage of new tariffs prepared by Trump shook world markets and very especially increased the concerns of America’s industrialists and producers who are suffering from a conflict of almost a year and covering products from both Countries for 360 billion, 000. This Tuesday the markets fell more than on Monday. On Wall Street The indices that came to lose more than 2% but then cut into something lost. The Dow Jones closed with 1.79% low. US officials said the parties were close to an agreement, but they accused Beijing of reversing matters that were already closed. Washington will begin to apply the new tariffs on Friday to the 04H01 GMT, said U.S. commercial Representer Robert Lighthizer, quoted by means of press the winds of War sow alarm
“It is clear that the tensions between the United States and China are a threat to the global economy,” said Christine Lagarde, managing director of the International Monetary Fund (IMF), in Paris

Christine Lagarde, managing director of the International Monetary Fund (IMF). Photo: AFP.

Agreement or conflict?
The new round of negotiations is considered to be the last, which either achieves a result or leads to a new trade war. “We think the two sides want to reach an agreement,” Barclays economists said. So far America’s economy has limited the impact of trade warfare, but experts point to it having consequences if the conflict stretches. The new tensions contrast with months of “fruitful” negotiations by the United States. At the moment the juncture seems favorable to Trump, with a stronger growth than expected in the first quarter (+ 3.2%), compared to a Chinese economy that is Was affected last year by tariffs. According to Trump, China has more to lose than the US in this conflict because it can at most only apply tariffs to US $120 billion of U.S. goods (the amount of exports of 2018). According to the Sino-US Economic Council, US exports to China fell last year and the most export-exporting US states suffer from Chinese tariffs.



Original source in Spanish

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