Last week, US President Donald Trump imposed 25 percent tariffs on $34 billion of Chinese goods, in an attempt to narrow the trade deficit.
Interestingly, this scenario of trade wars isn't only limited to the United States and China but even India has imposed heavy tariffs on agriculture products imported by the United States during escalating tensions, although India has been vocal about protectionism. The USTR announcement, however, indicated that the US considers the duties imposed by these various trade partners to be "retaliatory tariffs", suggesting that Washington will argue that the EU, China, and others have erred in notifying and applying these as so-called re-balancing measures in response to a safeguard measure.
"Price hikes caused by the increased tariffs would adversely affect these industries".
"Trump's trade war is hurting Missouri", reads a slate in the ad aimed at Hawley, highlighting stories of how tariffs have hurt farmers and companies in the state that rely on imported steel.
She said, "The Chinese government entered the WTO because the integration of the letter into economic globalization was in line with the historical trend, and promoting free and open trade could achieve mutual benefit and win-win results. Exporters to China such as Canada, Russia, Australia, and New Zealand, and exporters to the USA, such as Indonesia, Thailand, Mexico, and Brazil will be the winners as they can replace United States and Chinese seafood exports", de Jong wrote.
But the story won't end there.
China on Monday (July 16) lodged an additional complaint to the World Trade Organisation (WTO) regarding the United States' proposed tariffs on US$200 billion (S$272 billion) worth of Chinese imports, the Ministry of Commerce said in a statement.
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"America's trade adversaries have become more sophisticated in understanding America's political system", said Mr. The United States' punitive trade tariffs were imposed after the USTR found evidence that China was directing companies to make investments in US high-tech firms in order to steal technology critical to the regime's national interests.
"The joint statement is a confirmation of the EU-China's good relations", Fabio Massimo Parenti, associate professor of worldwide studies at the Institute Lorenzo de' Medici, Florence.
Senior researcher Dong Yan at the Chinese Academy of Social Sciences said China should firmly uphold the multilateral trading system while sticking to its established agenda of further opening-up.
The Trump administration has criticised the WTO for encroaching on United States legal sovereignty and failing to rein in China's alleged violation of global trading rules.
China's has hit back dollar-for-dollar, largely targeting agricultural products created to hurt Trump supporters.
"Relying more on fiscal policy to support domestic demand and defray the costs of the trade war is the wiser choice".
As Mr. deLisle read the moves, Mr. Trump expects the other countries to step forward and negotiate with him.