Handelskonflikten between the united states and China, and will soon move into a new, calmer phase. In the onsdagseftermiddagen, Swedish time, met with the president of Trump international, and the Chinese deputy prime minister Liu He of the White house for the signing of a first contract.
this Conflict has been going on for over a year now, with, through, and svarstullar on the other. The total value of the commerce which the united states imposed tariffs on approximately 550 billion u.s. dollars, according to the Stockholm Chamber of commerce estimates. Or to 5.216 million.
as of the trading is the equivalent of just over 185 billion u.s. dollars, equivalent to 1.750 billion for the year.
” It’s almost exclusively the trade between the countries, which suffered from the various types of duties on a variety of levels, and it is very unique I would say. Since the two world wars, has been the magnitude of the conflict has been extremely rare, ” says Stefan Westerberg, seniorekonom of the Stockholm Chamber of commerce.
The new contract is a : a ”phase I agreement”. Some of the american customs duties have been reduced, in exchange for China’s promise to buy more american goods, such as agricultural commodities, energy and manufactured goods.
agreed to halve the us action, which came into effect on 1 september, with a list of goods worth $ 120 billion, 7.5 per cent. China, for its part, has agreed to increase its purchases of u.s. goods and services, with a minimum of 200 billion dollars over the next two years, according to Reuters.
Donald Trump has posted on Twitter that he will be travelling to China with a call for phase two to proceed.
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the united states has a so-called balance of trade deficit with China. That is to say, the purchase of the people’s republic of China what is China buying in the united states. It looks The like a weakness, but according to the Stefan-Speaker, it is an old-fashioned way of looking at it.
“He switches to a negative balance of trade, to the bad, and the US doesn’t have any competition, but in reality, it’s not that simple,” says Stefan Westerberg.
the senior of us as consumers, and a large part of what China exports is not necessarily always produced in China, ” he says.
” It’s coming, from the USA’s point of view, to get a more even balance in this, but it’s a little out-of-date way of looking at the trade balance.
Stefan Westerberg, seniorekonom of the Stockholm Chamber of commerce. Photo credit: Picture
the Tension between the countries has been made worse, in principle, from that of the first duties was introduced in the summer of 2018, a conflict has been like a black cloud over the global economy. Now it looks like it will be a turn of events is positive for the global economy as well as for the English, says the Speaker.
” a trade war, that has been one of the main subjects of concern that affect the entire global economy, and a large part of our economy is tied to export of goods and services. If the economic conditions deteriorate, so as to deteriorate the most of the possibilities, ” he says, and points out that it is not going to be overly optimistic.
but there is a cloud on the horizon remains.
– It is, of course, is that China will implement this as well. It’s one thing to sign a contract and another to actually do something. This is one of the steps along the way, but that does not mean that the trade wars are over. Rather, we have a cease-fire and to negotiate how the relationship will look like in the future, ” says Stefan Westerberg.
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