Claudio Bizarro schreef op 4 april 2018 18:33:
Tit-for-tat tariff threats from the U.S. and China ignited fears that a trade war is beginning between the world’s two largest economies, sinking U.S. stocks.
President Donald Trump pushed back against an escalation with the Asian superpower, saying on Twitter Wednesday morning that “we are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.”
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
Trump later tweeted that “when you’re already $500 Billion DOWN, you can’t lose,” in a possible reference to America’s trade deficit with China. Figures from the U.S. Commerce Department put last year’s trade gap with the Asian nation at $337 billion.
China on Wednesday, matching the scale of proposed U.S. tariffs announced the previous day, said it would levy an additional 25 percent levy on around $50 billion of U.S. imports including soybeans, automobiles, chemicals and aircraft.
The step escalates the risk of a trade war between the world’s two largest trading nations, with the Trump administration’s latest offensive based on alleged infringements of intellectual property in China. The U.S. is targeting high-tech sectors that Beijing sees as the future for its economy, prompting an angry reaction.
When you’re already $500 Billion DOWN, you can’t lose!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
QuickTake: Trump Wanted a Trade War. Here’s What One Looks Like
“China’s response was tougher than what the market was expecting -- investors didn’t foresee the country levying additional tariffs on sensitive and important products such as soybeans and airplanes,” said Gao Qi, Singapore-based strategist at Scotiabank.