still more Chinese products taxed in the United States

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Additional duties of 15% on part of the $ 300 billion of goods imported from China and previously spared come into effect Sunday, September 1 at 00H01 local (04H01 GMT), according to the notification services of the Trade Representative (USTR) published in the Official Journal.

Donald Trump dismissed Friday night the idea of ​​postponing them to a later date. "They are validated," he told reporters.

The goods concerned cover a very wide range of products, in particular from the food sector (ketchup, cut beef meat, pork sausages, fruits, vegetables, milk, cheese, spices, ice cream, etc.).

Some sporting goods such as golf clubs, surfboards or bicycles, musical instruments, sportswear, furniture, dishes or even highchairs for children will also be surcharged, according to the official list.

$ 112 billion worth of goods involved

Economists at the Washington-based Peterson Institute for International Economics have estimated that $ 112 billion worth of goods will be subject to these new tariffs.

The trade war, triggered by Donald Trump for over a year and a half, ignited last week with the announcement of additional tariffs on all goods imported from China by the end of the year.

More than 250 billion of the approximately 540 billion (2018 amount) had so far been overtaxed.

Beijing riposte expected this September 1 also

Beijing should retort by raising tariffs on $ 75 billion worth of US goods, part of which also on September 1.

Several hundred US companies and business groups on Wednesday urged the Trump administration to postpone new tariffs, saying they would destroy jobs and weigh on consumers in the United States.

But Friday, the Republican president, who is seeking a second term, made a mockery of these companies.

"Weak and misdirected companies blame – and it's good to see – these little tariffs rather than themselves for mismanagement … and who can really blame them for doing that? These are just excuses ! ", he tweeted.

Strategy so far ineffective

A few days earlier, he had paralyzed the American business community by telling them to stop doing business with China, an "order" that his advisers later seemed to downplay.

Since March 2018, the President has embarked on a ruthless tariff war to impose a treaty ending unfair trade practices such as the forced transfer of US technology and the massive subsidy of Chinese state-owned enterprises.

This strategy has proved to be ineffective for the moment, although it weighs heavily on the Chinese economy.

A further escalation of tariffs is likely to severely affect China's economic growth, the International Monetary Fund (IMF) has also recently warned. However, the Chinese authorities have remained as inflexible as Donald Trump.

Trade negotiations have been deadlocked for months. The escalation of tensions, which is causing a lot of turmoil in financial markets, could put a stop to global expansion.

Confidence of American consumers at the lowest

Donald Trump spoke this week of talks between Chinese and American negotiators, which has not been confirmed by the Chinese side. He keeps hammering that China needs a deal more than the United States, saying the US economy has remained immune to the trade war.

On Friday, he blamed the slowdown in the US economy on the central bank's monetary policy. The figures for growth, inflation and household consumption have until recently seemed to prove him right.

But uncertainty about the outcome of this conflict is now weighing on business investment and the mood of US households. Consumer confidence recorded the biggest deterioration in August since December 2012, according to the University of Michigan survey.

"The data indicates that the erosion of consumer confidence due to pricing policies is now well under way," Richard Curtin, the economist leading the bi-monthly survey, said on Friday.

Sign that the Trump administration might have some fears about the impact of this new escalation: some products featured Christmas shopping will not be taxed before December 15.

This is the case of phones and laptops, video game consoles, some toys, computer screens or some shoes and sportswear.

In the United States, consumption generates 75% of GDP growth.



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https://www.latribune.fr/economie/international/conflit-commercial-toujours-plus-de-produits-chinois-taxes-aux-etats-unis-826818.html

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