US tariffs on Chinese products come into effect

Damascus-Sana

WASHINGTON (Reuters) - Billions of dollars worth of Chinese products have been put into effect in a new chapter in President Donald Trump's reckless trade war, ignoring warnings about possible negative consequences for the US and global economies.

The new US tariffs are up to 15 percent on Chinese imports worth more than $ 125 billion and include a wide range of goods, especially in the food sector, and will impose fees on some sporting goods such as golf clubs, surfboards, bicycles, musical instruments, sportswear, home furniture and many other products. It would directly affect the purchasing power of the American consumer and make it suffer from high prices.

Chinese goods covered by customs duties today are added to other Chinese products worth more than $ 250 billion, which are already subject to an increase in tariffs. By the end of this year, tariffs on all Chinese imports, which amount to about $ 540 billion, will be increased according to 2018 figures. Expected payment of fees on December 15.

China has responded to the new US move by raising its tariffs on US products worth $ 75 billion in two phases, while imposing a 15 percent surcharge on 1,717 goods out of a total of 5,078 US products. In which the International Monetary Fund issued warnings of escalation of the new US president in customs duties.

Trump has insisted since March 2018 on a strategy to impose tariffs on Beijing despite its apparent failure and its impact on the global economy, which relies mainly on trade, while China refuses to hold talks under threat and calls on Washington to stop its wrong actions in this regard immediately.

The consequences of Trump's hostile actions against China have cast a heavy shadow on the US economy, with a clear slowdown as corporate investment, US family sentiment and a decline in consumer confidence in August fell by 8.6 percent, the biggest drop since 2012.

In the face of the warnings issued by US and international experts from the consequences of the trade war against China, Trump's intransigence and ignoring the consequences of his policies on the US markets and companies is clear.

Amid a sharp contradiction in Trump's positions and policies, Beijing and Washington are considering holding the next round of direct trade talks in September, while the Chinese Commerce Ministry said a few days ago that "hopes for progress depend on whether the United States can provide the right conditions". That is extremely slim with Trump's growing intransigence and leaving him little leeway to calm the situation.

As Trump continues to ignore the consequences of his policies, trying to remove responsibility for himself in the deterioration of the US economy by blaming Americans, including officials, companies and businessmen, the specter of a major recession in the United States in light of the growing difficulties faced by companies amid the uncertainty caused by trade disputes between Washington And Beijing.

Bassima Kenoun

Follow the latest news through the Telegram app on smartphones via the link:

https://telegram.me/SyrianArabNewsAgency

Follow our page on the social networking site VK at:

http://vk.com/syrianarabnewsagency