U.S. imposes US$ 34 bil. tariffs on Chinese goods
- 6 years ago
미국 ‘25% 고율관세’-중국 ‘보복’…한국경제에 미치는 영향은?
It would appear to be the start of a trade war between the U.S. and China.
The Trump administration's new tariffs on 34 billion dollars worth of Chinese goods are now in effect as of Friday morning, Washington time.
China has said new tariffs of its own will kick in immediately.
Trump says trade is a war America can't lose because it holds all the cards, but it's spooked markets -- including here in Korea.
Kim Hyesung reports.
It's D-day.
The U.S. has slapped tariffs on Chinese goods on Friday, the first shot in a trade war between the world’s two biggest economies.
As of Friday U.S. Eastern time, Washington started taxing 818 Chinese products, including semiconductors and airplane parts, that are worth 34 billion U.S. dollars a year.
Beijing has vowed to hit back with tariffs on the same amount of U.S. goods, ranging from soybeans to pork.
The move comes after President Trump repeatedly decried the U.S. trade deficit with China, and accused Beijing of forcing U.S. companies to transfer their intellectual property to Chinese companies to enter the Chinese market.
Following Friday's tariffs, the U.S. also plans to impose a second round of tariffs on 16 billion dollars' worth of Chinese products in about two weeks, another action China has said it would respond to in kind, by imposing tariffs on U.S. products including soybeans, dairy products and automobiles....targeting American farmers, who overwhelmingly backed Trump in the 2016 election.
Experts are warning that an escalating trade war between the two superpowers could disrupt supply chains and hurt business confidence.
Hyundai Research Institute estimates that if the United States imports of Chinese goods drop 10 percent, this will eventually cause Korea's exports to China to shrink by more than 28 billion U.S. dollars.
"South Korea trades 37 percent of its exports with China and the U.S.. In particular, it sells a lot of intermediary goods to China that are made into final goods and exported to the U.S. Growing trade tensions, tit-for-tat measures between Washington and Beijing could slowdown South Korea's real economy."
The Trump administration in addition has mounting clashes with other trading partners, in particular Canada, Mexico and the EU
Fitch Ratings estimates that a full-blown trade war between Washington and Beijing could cost the world economy some two trillion U.S. dollars.
Kim Hyesung, Arirang News.
It would appear to be the start of a trade war between the U.S. and China.
The Trump administration's new tariffs on 34 billion dollars worth of Chinese goods are now in effect as of Friday morning, Washington time.
China has said new tariffs of its own will kick in immediately.
Trump says trade is a war America can't lose because it holds all the cards, but it's spooked markets -- including here in Korea.
Kim Hyesung reports.
It's D-day.
The U.S. has slapped tariffs on Chinese goods on Friday, the first shot in a trade war between the world’s two biggest economies.
As of Friday U.S. Eastern time, Washington started taxing 818 Chinese products, including semiconductors and airplane parts, that are worth 34 billion U.S. dollars a year.
Beijing has vowed to hit back with tariffs on the same amount of U.S. goods, ranging from soybeans to pork.
The move comes after President Trump repeatedly decried the U.S. trade deficit with China, and accused Beijing of forcing U.S. companies to transfer their intellectual property to Chinese companies to enter the Chinese market.
Following Friday's tariffs, the U.S. also plans to impose a second round of tariffs on 16 billion dollars' worth of Chinese products in about two weeks, another action China has said it would respond to in kind, by imposing tariffs on U.S. products including soybeans, dairy products and automobiles....targeting American farmers, who overwhelmingly backed Trump in the 2016 election.
Experts are warning that an escalating trade war between the two superpowers could disrupt supply chains and hurt business confidence.
Hyundai Research Institute estimates that if the United States imports of Chinese goods drop 10 percent, this will eventually cause Korea's exports to China to shrink by more than 28 billion U.S. dollars.
"South Korea trades 37 percent of its exports with China and the U.S.. In particular, it sells a lot of intermediary goods to China that are made into final goods and exported to the U.S. Growing trade tensions, tit-for-tat measures between Washington and Beijing could slowdown South Korea's real economy."
The Trump administration in addition has mounting clashes with other trading partners, in particular Canada, Mexico and the EU
Fitch Ratings estimates that a full-blown trade war between Washington and Beijing could cost the world economy some two trillion U.S. dollars.
Kim Hyesung, Arirang News.