Date: 3 months ago   Category: Economy

The economist has told when the USA and China feel influence of trade war - RIA Novosti, 8/27/2018


Flags of China and USA
BEIJING, 27 – RIA Novosti. China and the USA will begin to feel influence of trade war only in 3-6 months, it is at the moment difficult to estimate scales of influence of new mutual duties on bilateral trade and economy of two countries, the deputy head of institute of the American researches of the Chinese academy of social sciences Fan has told RIA Novosti. Trade war between China and the USA has begun after on July 6 this year the mutual raised customs duties between these states have come into force. The USA has introduced duty into 25% for import of 818 names of goods from China with a total amount of deliveries of 34 billion dollars a year. As a counter-measure China in the same day has introduced duty into 25% for import of equivalent volume of the American goods. Last Thursday the USA has introduced duty into 25% for import of the Chinese goods of 16 billion dollars. A minute later the Chinese side has entered similar measures. "Increased taxes of the People's Republic of China and the USA have come into force on July 6, but trade is a process, it not so that time – and it is made, we can't in one day on July 6 at once import into the People's Republic of China and into the USA of goods for 50 billion dollars, it will gradually occur. Perhaps, after introduction of duties the USA and China have imported goods, for example, for 1 billion dollars, figures small and therefore there is no special influence yet" — I have told to Fan following the results of a round table in Beijing which subject of discussion was a trade war of the USA and the People's Republic of China. He has explained that "after 3-6 months volumes of trade will be more therefore also influence (trade war – the edition) can be felt and estimated". At the same time, commenting on recent bilateral consultations in Washington on trade contradictions, Fan has noted that it wasn't succeeded to achieve results including because of delegation level. The deputy minister of commerce of the People's Republic of China Wang Shouwen and the Deputy Minister of Finance of the USA on the international affairs David Malpass participated on August 22-23 in consultations. According to the expert, it wasn't succeeded to achieve any results during the last consultations for the reason that "officials of such level can't discuss especially important issues". Answering a question of when it is possible to expect elimination of friction on trade questions between two parties, the expert has noted that it is difficult to predict, but "the Chinese side doesn't want trade war, the earlier it will stop, the better".

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