New situation in the Sino-US trade war: Trump plans to add an additional US $ 100 billion in tariffs to China, and Europe and Japan will join hands with the US to WT
US President Trump issued a statement on the 5th local time, saying that the Office of the US Trade Representative has been instructed to impose tariffs on an additional US $ 100 billion of goods imported from China based on the "301 investigation."
Foreign media said that Trump's latest move has also been criticized by members of the Republican Party. Nebraska Senator Ben Sasser called the move "a very bad practice." He said in a statement "I hope the president is just bragging this time, but if he is serious, it must be crazy."
Trump said in a statement that if the US Trade Representative's Office considers this move appropriate, it should formulate a corresponding list of goods subject to additional tariffs. The US Trade Representative ’s office responded to the request that day, and the President ’s request for additional sanctions was “appropriateâ€. But US Trade Representative Robert Lighthizer added that no measures will be implemented immediately. All additional tariff recommendations will also accept public comments, "No tariff will take effect until all processes are completed."
Trump's latest move means that the United States may impose tariffs on up to 150 billion US dollars of goods imported from China. After Trump's latest news came out, stock index futures trading pointed out that the Dow Jones Industrial Average fell more than 400 points. It has been observed that although Trump said on Twitter that "there was no trade war," such measures are only "short-term pain," but his actions have caused panic in the United States. Mark Zandi, chief economist at Moody ’s Analytics, predicts that 190,000 jobs will be lost due to the trade war.
In response to U.S. actions, China responded by taking concrete actions. The Ministry of Commerce announced on Thursday that China has filed a request for consultations with the US under the WTO dispute settlement mechanism for the US imports of 232 measures for steel and aluminum products, and formally initiated the dispute settlement process. In addition, on Wednesday, the Ministry of Commerce also announced that China was suing the United States in the WTO against the proposed measures of 301 taxation.
According to a Bloomberg report, the World Trade Organization (WTO) local time 5 Japanese documents released on Thursday showed that the EU and Japan requested to work with the Trump administration to complain to the WTO about China ’s discriminatory technology authorization regulations, saying that the US-China dispute is They have a "great trade interest" relationship.
The EU claims that its high-tech products exported to China are worth 30 billion euros and total direct investment in China is 180 billion euros. Japan claims to be "the biggest stakeholder in technology transfer to China", saying that Japanese nationals have a large number of patent rights in China.
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