China attack the US: Wang Yi, Minister of Foreign Affairs of the People's Republic of China accused the United States that they were using “unilateral intimidation” and “put their state in the first place”. He posted such allegations in an official note after meeting Rafael Grossi, the general director of the International Atomic Energy Agency. Straight for “chaotic and turbulent” the international situation was blamed “large countries believing in the superiority of strength”, specifying that we are talking about the USA.
Emotions are growing: “The international community cannot sit idly, the United States cannot act arbitrarily, and the Circle of History cannot go back. We face powerful forces not only to protect our legitimate rights and interests, but also to protect the common interests of the international community and preventing the return of humanity to the world of the junglein which the stronger people hunt for the weaker ” – we read in the note.
The trade war accelerates: China's outrage is caused by the US customs policy and the fact that Donald Trump did not cover this country with 90-day deferring of higher customs tariffs due to retaliation. That is why duties on Chinese goods in the United States are now already 145 percent. In turn, the Chinese raised customs duties to American goods up to 125 percent What's more, dozens of American companies were entered on the list of entities with a ban on investments in China.
Not only China suffers: The International Trade Center (ITC), operating at the UN, issued a message in which he states that due to the radical duties of Donald Trump Global trade can shrink by 3-7 percent, and the global gross domestic product by 0.7 percent. – If this escalation between China and the US is lasting, this will lead to a 80 % reduction in trade between countries, and the domino effect of this phenomenon throughout the line can be catastrophic- alerts Pamela Coke-Hamilton, ITC executive director. Catastrophic can be especially for developing countries such as Lesotho, Cambodia, Laos, Madagascar and Myanmar. “Clinics may have a far more harmful influence than withdrawal of foreign help,” adds Coke -Hamilton.
Read also: “This industry employs 400,000 in Poland. people. Trump's customs will hit her. 'Employees threatened' “.
Sources: Chinese Ministry of Foreign Affairs, Reuters, ItcIAR