TRADE WAR BETWEEN USA AND CHINA UNAVOIDABLY DEEPENING




Mustafa AY – TDO – 07.07.2018 On Friday, USA levied extra 25 percent tariffs over 818 different types of commodities –34 billion dollars worth- imported from China. Following this, Beijing strictly condemned USA’s economic actions. Chinese Foreign Ministry Spokesman released an official statement referring to “Washinton’s economic actions is not fair. For the reason of USA’s imposition of unfair tariffs over Chinese commodities, China will reciprocate those actions by enforcing extra tariffs on US products at the same proportions. Besides Foreign Ministry, Chinese Ministry of Commerce also asserted those remarks, “USA launched blanket trade war in our economic history. In this case, USA gave us no chance. So, we’ll respond their unfair economic actions in the same way.”

In face of consecutive tariffs on Chinese import goods by Trump administration, Chinese Ministry of Commerce accused USA of contravening international trade rules of World Trade Organisation. Moreover, Chinese Ministry uttered that USA’s irresponsible and arbitrary actions have an utmost tendency to create all-inclusive impact on global trade. Namely, trade war amidst USA and China poses imminent threat to global commercial order. Finally, Ministry of Commerce emphasized that they will retaliate USA if Washington opts for either renewing or implementing new tariffs. President Trump’s words relating to upcoming new tariffs to levy on 16 billion dollars worth of Chinese export goods will most probably exacerbate the current situation since Beijing underlied national interests.