Trade War: China's Inflicts Heavier Damage
WASHINGTON - March 4, 2019
The damage from the increase in Chinese duties on the import of American goods exceeded the losses from similar measures from the United States, according to a study from the Institute of International Finance (IIF).
It also indicates that from July to November, the export of goods from the US to China fell by $17 billion, or $40 billion in terms of annual rates.
This figure is about a third of the total volume of American goods delivered to China in 2017.
According to Bloomberg, the indicator considers not just the difference in the indicators for 2018 compared to 2017, but a decrease to the forecast for 2018, which provided for a situation of absence of increases in the US and Chinese duties.
Last year, the US increased duties on the import of Chinese goods totaling about $250 billion a year. State authorities have also threatened new increases if Washington and Beijing don’t agree on a trade agreement.
The governments of the two countries are still actively negotiating, and, according to Bloomberg, the US side is preparing the agreement text for the meeting of President Trump and Chinese President Xi Jinping, scheduled for the end of March.
It should be added that Trump didn't impose new duties on March 1 as originally anticipated. He also noted that these talks held last weekend were very productive.