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High Tariffs on Chinese Products
American republican presidential candidate Trump advocated the imposition of tariffs on imports from Mexico and China, perhaps in the Republican primaries helped him win the vote, but if implemented, the effect may be counterproductive, says manufacturers will hit increasingly rely on global supply chain. A foreign trade analysis, trade lawyers, economists and business executives told Reuters that if as promised in the Trump campaign as a tax on all imported goods from Chinese 45%, a tax on imports from Mexico 35%, will lead to financial market turmoil, may even lead to economic recession. In the February 25th debate, Trump said that in the case of the United States lost $58 billion a year, I do not care about the trade war. Trump refers to the United States in 2015 on the trade deficit of goods in Mexico. But economists do not agree with this kind of “loss” of the United States, saying that the trade deficit is the difference between the United States and other countries.
Former Deputy Trade Representative Cutler (Cutler Wendy) said that the imposition of (high) tariffs or the establishment of trade barriers, the idea may sound good, but it will affect our economy and credibility. The hardest hit will include the US import & export data to industry, as the industry has fully integrated Mexico into its production network. The United States Department of import & export data shows that the dollar about 118 billion vehicles and parts duty-free trade between the United States and Mexico last year. Trump’s campaign team said in a statement, the United States trade policy constitutes a “unilateral economic compromise”, need to change, because it is in competition against the United States commodity, currency, unfairly targeted US.
Industry provides a convenient. The Alliance for American manufacturing leader Paul (Scott Paul) said, (Trump) this is particularly strong and bombastic attitude, fundamentally help solve the problem. He also said that there is a broad consensus in all aspects…… China’s economic relations with China, the United States government should be tough on some of the. Brandeis University Petrie (Peter Petri) professor said, if suddenly Chinese and Mexico commodity substantial increase in tariffs, and lead to retaliatory measures, American manufacturing industry needs time to rebuild the supply chain for several years. He pointed out that even if the U.S. companies to complete such a transition, the U.S. national income is still likely to reduce more than $100 billion a year. Trade lawyers pointed out that Trump’s tax plan would violate the North American foreign trade analysis services, and contrary to the United States on the WTO (WTO) commitment. Former US trade representative Schwab (Schwab Susan) said that if the implementation of such a tax plan, China and Mexico will choose the most vulnerable areas of the United States to take revenge measures. Foreign trade analysis pointed out that, if the outbreak of a comprehensive tariff war with China, the United States may lead to the most import & export datas facing high tariffs, including aviation, semiconductor, corn and soybeans and other industries. Retaliation tariff measures will also undermine China’s auto exports to the United States.