US President Donald Trump saw that it was “possible” to reach a trade agreement with China while Trump continues his protectionist project by imposing customs duties, especially on Beijing.
Trump told reporters on the presidential plane yesterday evening, Wednesday, that the United States concluded in 2020 a “great trade agreement with China” and that reaching a new treaty today is “possible.”
He added that between Washington and Beijing, “some competition, but the relationship that binds me to President Xi (Jinping) is excellent.”
In response, China called on Washington to express “mutual respect” in resolving economic conflicts.
“The two parties must solve their mutual fears through dialogue and consultation based on equality and mutual respect,” said Chinese Foreign Ministry spokesman Go Giakon.
Since the beginning of his second term at the end of last January, the American president has made customs duties the main tool for his policy to reduce the large trade deficit.
In early February, the Trump administration imposed additional customs duties of 10% on all products imported from China, the country that records the largest trade surplus with the United States at the level of commodities, and the deficit reached $ 295.4 billion in 2024, according to the Office of Economic Analysis of the Ministry of Trade American.
The United States constituted about 15% of China’s exports last year, according to Chinese customs data.
Beijing responded by imposing customs duties by 15% on its American imports of coal and liquefied natural gas, and 10% on oil and other commodities (agricultural machines and vehicles, etc.), but these measures are lower in terms of those imposed by Washington.
China condemned the World Trade Organization yesterday with the “customs shocks” that Trump pursues, which could lead to a “global shrinkage”.
The World Trade Organization said yesterday that talks on trade tension were “positive” after Beijing’s accusations of Washington.
Trade spokesman Ismail Diang – a press conference in Geneva yesterday – said that most of the six countries that participated in talks on commercial turmoil expressed their concern about escalating tension, but also called for self -control.
The American envoy David Bespe has described the Chinese economy as “a system
A predatory economy is not favorable to the market “and accused her of violating organized rules
World Trade and circumvent it.
https://www.youtube.com/watch?v=7rb2hc52rky
Threats
As of March 12, Washington will also impose new customs duties by 25% on steel and aluminum exports on all its commercial partners.
Trump also threatened to impose new customs duties by 25% or more on other wide sectors, as of the beginning of next April, from construction wood and forest products as well as cars, semi -conductors and medicine industries.
Regarding construction wood and forestry (round woods, published woods, pulp, paper, cork …) The American president said that he is “looking” in imposing these measures “borders of the second of April” next.
The International Trade Committee states that Canada, adjacent to the United States, is the first Washington provider of forest products, and it is about half of the American imports in this field.
Canada and Mexico were imposed 25% on their products, but Trump gave a deadline until the first of next March before the start of work with these measures.
https://www.youtube.com/watch?v=vnqbt7fkxrg
Auto
The auto sector may avoid fees in the event of investing in factories in the United States, according to Trump, who said, “We want to give them time to come (…) We want to give them a chance.”
German car industries companies have warned yesterday of the risk of a “global commercial dispute” that ends the end of American consumers paying a higher price to buy a car.
For its part, the German Automobile Union denounced what it considered a “provocation”, while imposing on European cars supplied to the United States of 2.5%.
For its part, the European Union said yesterday that it does not see any “justification” to impose additional customs duties on its products.
“Some say that the customs duties imposed by the European Union are higher than those imposed on imports to the United States, but the data prove that this is not true. The Union’s economy is one of the most open in the world with more than 70% of Imports without fees. ”
Sivkovic confirmed that if the United States imposes customs duties, the European Union will respond with “firm and quickly.”
